Metals Traders Lose at Least $144 Million as ‘Hat’ Flees China
Chinese metals traders have racked up losses totaling at least 1 billion yuan ($144 million) after one of their counterparties fled the country leaving deals unfinished, alarming top regulators worried...
By Alfred Cang, Julian Luk · Bloomberg Markets
Chinese metals traders have racked up losses totaling at least 1 billion yuan ($144 million) after one of their counterparties fled the country leaving deals unfinished, alarming top regulators worried about hidden financial risks, according to people familiar with the matter.