日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

  Home>News Center>China
       
 

Copper trader racks up loss on massive short position
By Fu Jing (China Daily)
Updated: 2005-11-17 05:56

A Chinese copper futures trader has racked up a loss of several million dollars for building up a massive short position on copper, but officials denied his ties with the government, sources said yesterday.

"As far as I know, the loss was a result of his personal actions, instead of the government," an official with the Reserve Bureau told China Daily.

In the futures trade market, a short position happens when a trader borrows a commodity to sell it, believing the price will drop and therefore can buy it back later at a lower price.

The official said the copper trader Liu Qibing was the former import division chief of the National Control Centre for the Reserve Bureau, a company-like trade organization affiliated to the National Development and Reform Commission (NDRC).

"A foreign media report that Liu is working with our bureau is fabricated," said the official, whose bureau is in charge of the country's strategic commodity reserves, which is a governmental organ under NDRC.

The centre and Liu's division could not be reached for comment on the loss, caused by a short position of between 100,000 and 200,000 tons of copper, which would have to be delivered to the London Metal Exchange (LME) warehouses by December 21.

Initial investigation found that Liu alone should be blamed for the loss, said the official. Liu is reportedly "on leave" after building up a massive short position even as copper prices hit new record highs.

The official said the commission has been involved with the investigation, which his bureau and the centre took part in.

The Financial Times reported that copper prices reached record highs on Tuesday as the LME tried to calm speculation that China may be forced to buy large quantities of the metal in order to cover a short position.

The benchmark price for three-month LME copper hit US$4,175 per ton, up US$49 from the previous close. The metal's price has now risen by more than US$600 since the middle of September.

The Financial Times quoted the LME as saying: "We are charged with running an orderly market and we are satisfied that the market is running in an orderly and appropriate manner."

China is planning to auction off 20,000 tons of copper to demonstrate that it has some of the metal. The government also said last week that it had 1.3 million tons of copper, and it has taken measures to curb rising copper prices.

(China Daily 11/17/2005 page2)



Hu in Seoul for visit
China Fashion Week
China's tallest building starts construction in Shanghai
  Today's Top News     Top China News
 

China confirms its first human bird-flu cases

 

   
 

ROK grants China market-economy status

 

   
 

Don't hinder official's trip, Taipei told

 

   
 

Bush: US supports 'one-China' policy

 

   
 

Traders face fines for alcohol sales to minors

 

   
 

US senate delays vote on China currency bill

 

   
  Vaccine team prepared if virus mutates
   
  Law firm in trouble for illegal acts
   
  Artist's widow submits proposal on estate division
   
  Shanghai chosen as host of Special Olympics
   
  First phase of joint marine survey complete
   
  Copper trader racks up loss on massive short position
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 天堂免费在线视频 | 最新黄色av| 97色在线视频 | 欧美在线日韩在线 | 国产自产在线 | 男人天堂av在线播放 | 这里有精品视频 | 免费精品一区 | 中文字幕99| 日韩精品无码一区二区三区 | 日韩免费播放 | 91成人精品一区在线播放 | 国产中文字幕一区二区 | 毛片大全免费 | 亚洲29p| 黄网在线免费看 | 久久亚洲区 | 九九九九精品 | 精品小视频 | 成年人免费在线观看视频网站 | 午夜激情影院 | 黄色看片网址 | 五月婷婷色丁香 | 99视频热 | 九九热久久免费视频 | 东京热毛片 | 激情宗合网| 亚洲成人毛片 | 日日骚| 婷婷俺也去 | 亚洲视频在线观看 | 国产精品福利一区二区 | 中文字幕一区2区3区 | 国产激情视频在线播放 | 麻生希在线播放 | 成年人免费看片 | 香蕉伊人网 | 日本一本在线观看 | 亚洲成人91 | 五月激情六月婷婷 | 色中色综合网 |