The financial operations inside are relatively complicated. But in any case, JK Corporation became a supplier of Sumitomo Corporation. And the JK family was also a little bit greedy in futures trading, following Sumitomo Corporation as the banker, and suddenly fell into

into the abyss...

Hearing this, Li Yuan was almost not amused: "Do you want to sell the mine to me?"

If that's the case, it's not impossible. It's just transferred to a few state-owned enterprises. If the money is not enough, the Han Palace can also provide financing channels.

"Haha. That's not entirely the case. Li, if you are also interested in the mine, we can discuss it. But our biggest problem now is that we have a large backlog of spot goods, which has occupied all the funds of JK Commercial Bank..."

Byron quickly expressed the JK family's difficulties.

Because we had been working hard to produce, we had a large amount of spot copper. But in an instant, Sumitomo Trading Company's futures position exploded? Deliveries at maturity were stopped all of a sudden...

Here, I will not introduce the basic content of futures trading in detail. If you are interested, you can learn a little bit about it yourself.

However, during the futures trading process, you can choose to deliver at maturity and switch to spot trading. This is also an important business of the London Metal Exchange.

But no one expected that this time Sumitomo Corporation dug a big hole and suddenly suspended the delivery process? The mess has not been resolved yet, and there is not much that can be done for the time being.

Now it has become like this - fewer and fewer people choose to deliver at maturity. But more and more spot copper is produced. The price of copper futures has plunged from a high level, and there has been a big long gap like Sumitomo Trading Co., Ltd.

The balance of the market was instantly broken, and a huge amount of spot copper appeared...

Li Yuan nodded, he almost understood what Byron meant.

This is just like the famous Qingshan Demon Nickel incident in the previous life. Suddenly, there was an imbalance between spot and futures. The only difference is that this time it is the other way around.

Since there is an imbalance between supply and demand, there will of course be huge price fluctuations. If spot copper is sold at the current price, even the mining costs will be completely unbearable, right?
Chapter completed!