Relevant:
- ‘Ghost collateral' haunts loans across China's debt-laden bank system
- Steel wars widen as Europe launches probe into claims China is subsidising producers
- Special report: Goldman's new money machine: warehouses
- Chinese Steel Makers Warn Of Grievous Losses In The Second Half Of This Year
- China Announces 105% Tariffs on Chickens in Retaliation for US Steel and Tire Tariffs
2012-09-18 — reuters.com
``Chinese banks and companies looking to seize steel pledged as collateral by firms that have defaulted on loans are making an uncomfortable discovery: the metal was never in the warehouses in the first place.''
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