Chinese Copper Rally Shortlived? Beijing Bails Out Bank

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The People’s Bank of China took conservative steps to prevent a credit crisis in China as it announced that it would protect customers of Jiangsu Sheyang Rural Commercial Bank, which experienced a bank run on Tuesday as customers feared a collapse. The limited intervention failed to restore calm in the copper markets, which have been battered by Chinese warehousing, oversupply and weak demand.

 

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