Qingdao Port Said to Probe Volume of Metals in Warehouses

China’s Qingdao Port is counting industrial metals held in some of its bonded warehouses to determine if they match the amount in documents pledged to banks as collateral for loans, said three people with direct knowledge of the probe.

The port is concerned that there has been multiple counting of some batches of metals including copper and aluminum, said the people, who represent banks and a warehousing company who are assisting with the investigation. They asked not to be named as they aren’t authorized to speak publicly about the matter.