China Copper Giant Wins Banks’ Backing Amid Liquidity Woes
- Maike says banks have agreed to extend loans to the company
- The trader is one of the biggest copper importers in China
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Maike Metals International Ltd., one of China’s top copper traders, said it has secured backing from domestic banks as it seeks to weather liquidity issues.
Lenders have agreed to provide credit support to Maike, including extensions on existing loans, the company said in a statement on Thursday. The assistance follows a meeting on Sunday hosted by the municipal government of Xi’an in the province of Shaanxi, where the company is based, it said.