As predicted last week, China Construction Bank has now confirmed it is to buy 75% of London-based metals brokerage, Metdist, which will allow it access to top-tier trading on the London Metal Exchange. China is the largest consumer of many commodities, and accounts for nearly half of global copper demand. The deal was announced in a statement from China’s state-owned financial institution and its chairman, Wang Qishan.
As predicted last week, China Construction Bank has now confirmed it is to buy 75% of London-based metals brokerage, Metdist, which will allow it access to top-tier trading on the London Metal Exchange. The deal was announced in a statement from China’s state-owned financial institution and its chairman, Wang Qishan.