China’s Crackdown on Metals Traders Raises Fears of Global Impact
An investigation into circular invoicing has expanded to Shanghai, where it threatens to roil the industry.
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Welcome to our guide to the commodities driving the world economy. Today, senior reporter Alfred Cang asks what a Chinese crackdown on dubious invoicing practices might mean for global metals markets.
As hundreds of traders, bankers and analysts gather in Hong Kong for the LME Asia Metals Seminar this week, there’s one topic that many are struggling to understand: Beijing’s crackdown on the invoice-driven economy.