The Traderszone Network

Published in TZ Latest News 28 July, 2014 by The TZ Newswire Staff

Exclusive: Goldman unit eyes foray into China amid metals financing scandal

NEW YORK/SYDNEY/LONDON (Reuters) – Goldman Sachs Group Inc’s metals warehousing unit is exploring its first foray into China, and privately held C Steinweg has expanded capacity there, sources said, as a financing scandal in a major Chinese port fuels a scramble for market share. It has intensified a battle between new entrants and entrenched rivals in the multi-billion dollar business of securely storing the world’s commodities in China, the world’s biggest producer and user of base metals.

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