China port stops shipment of metals amid probe
[SYDNEY] China's north-eastern port of Qingdao has halted shipments of aluminium and copper due to an investigation by the authorities, causing concern among bankers and trade houses financing the metals, trading and warehousing sources said on Monday.
Port authorities could not immediately be reached for comment. China had a public holiday on Monday. "We were told we can't ship any material out while they do this investigation," a source at a trading house said.
The port of Qingdao is China's third-largest foreign trade port and the world's seventh-largest port, trading with 700 ports in more than 180 countries, according to its website.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Japan and Asean plan joint strategy on auto production: Nikkei
Ship that destroyed Baltimore bridge set to move on May 20
Baltic Exchange Shipping Insights
Lamborghini CEO sees fully electric supercars a ways off
Boeing shareholders back outgoing CEO pay deal despite safety woes
US tariffs on Chinese EVs hurt green transition, says XPeng boss