Collateral damage from Qingdao probe

Investigations into irregular financing using copper send global prices lower, reports Wei Tian from Shanghai

Copper markets are being shaken by developments at Qingdao Port, where metal inventories have reportedly been used in fraudulent ways to raise funds.

Officials are looking at whether metals stockpiled at Qingdao Port fell short of obligations used to secure loans, and they're focusing on Decheng Mining, a Qingdao-based private metals trader, Reuters reported, citing two police sources with direct knowledge of the matter.