China reports $144M metals losses after counterparty Xu Maohua disappears

Precious metals traders tied to China’s vast supply chain are staring at losses of at least 1 billion yuan, or $144 million, after a key counterparty disappeared and left contracts unfinished. The center of the mess is Xu Maohua, a metals dealer known across China’s trading circles as The Hat. He vanished after years of […]