Chinese trader’s $20 million pile of Russian copper goes missing
Wuchan Zhongda Group, which had sales of $80 billion in 2023, bought 2,000 tons of refined copper from a Russian smelter that should have been delivered last month.
Copper vaulted toward a record in London and nickel spiked nearly 8%, capping a week of big moves in industrial and precious metals markets as bullish investors pile in and bearish bets unravel.