Capstone Copper Corp T.CS

Missing Copper 1/2 a $Billion

[Cobalt]

Copper worth nearly half a billion dollars goes missing in China

"A group of Chinese companies are investigating why a commodities storage site in northern China is holding only one third of the copper concentrate they were financing, according to people familiar with the situation.

 

Traders from more than a dozen mostly state-owned firms gathered in Qinhuangdao city this week after becoming aware of the missing material following concerns into the borrower’s finances, said the people, who asked not to be identified as they aren’t authorized to speak publicly."

[goldens]

Somebody cooking the books. That is about 1/2 the total copper in storage on the LME. I wonder how many other sites in China might be light on what they say they have?

[Cobalt]

No kidding , the books are cooked everywhere ;)