01 Sep, 23

Massive Copper Theft Scandal Sends Shockwaves Through Metal Market

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Shares of Europe’s top copper producer in Frankfurt trading plummeted following an announcement that it might have fallen victim to a massive theft, potentially leading to losses of several hundred million euros –adding to the series of turbulence to rock the global metals sector in recent years.  Bloomberg reported that Hamburg-based Aurubis ‘found discrepancies’ in its metal inventories. It said suppliers had manipulated details about the scrap metal shipments, with even its employees in the sampling department covering up the scam. …

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