Pan Asian Incident Will Be Pronounced, the Sealed Goods May Affect the Trend of Tungsten Price

According to Xinhua News Agency reported on July 1st, recently, the intermediate people's Court of the municipal government of the city of Liaoning Province held a public hearing on the case of the defendant unit, 4 companies of Pan Asian Nonferrous Metals Exchange, Dan Jiuliang, 21 other defendants suspected of illegal deposits from the public, and Dan Jiuliang and Yang Guohong suspected of embezzlement.

It is understood that the Pan-Asian Metal Exchange, known as the largest rare metal exchange in the world, has been defining its business behavior in the name of strategic storage for the country, owning 95% of the global indium inventory, and is also the largest spot exchange in China for customer asset management. Among them, 14 rare rare earth metals, such as germanium, cobalt, tungsten, bismuth, gallium, antimony, selenium, tellurium, vanadium and rare earth dysprosium, Rare Earth Terbium and so on, are the strategic resources contested by all countries in the world. They have important applications in electronic technology, new energy, new materials, aviation, aerospace, military and other fields. Among them, seven varieties of indium, germanium, cobalt, tungsten, bismuth, gallium and antimony are traded volume, delivery volume, reservoir, etc. The stock is the first in the world.

The cause of the Pan Asian coloured cashing crisis in Kunming is that the demand management product named "Japan Jinbao" launched by Pan Asia is suddenly unable to withdraw cash. The products such as "Japanese gold treasure" and "Japanese gold plan" promise 10% to 13% fixed annualized yield rate, and the income is not related to the rise and fall of the goods. It involves 220,000 investors nationwide, with an amount exceeding 43 billion yuan. Subsequently, investors gathered in the market, seeking solutions, but so far no results have been achieved.

Pan Asian metals are considered to be Ponzi's fraud because, under the banner of protecting China's rare metal reserves, they tie their business model to the safety of the national rare earth strategy. At the same time, it claims that introducing private capital into commercial storage can not only absorb excess capacity, but also effectively regulate the stage supply and demand of the upstream and downstream industries, make the fluctuation of industrial prices more stable, and make the information of industrial development more transparent and orderly. Therefore, Pan-Asia tries its best to control the pricing power of rare metals through artificial manipulation, so that the tungsten price keeps rising, thus creating a prosperous market of rare metals and achieving the false effect of value-added and value-preservation.

The investigation and verification by the public security organs found that: in April 2012, the Pan Asian colored trading company changed its trading rules without authorization, and launched the "entrusted entrusted" business. Without the approval of the relevant departments, it bought and sold the related companies with its own buying and selling means, manipulated the price of the platform, and made a hot sale. In April 2015, there was a problem in the Pan-Asian capital chain and a liquidity crisis broke out in this product. In June 30, 2016, according to law, 20 major suspects were transferred to the procuratorial organs of the Municipality for examination and prosecution.

From June 30 to July 1, 2018, the Pan-Asian case, which attracted much attention, entered the trial stage and will be adjudicated at a later date. It should be noted that more than 70,000 tons of non-ferrous metals in the case inventory will be the largest liquidable assets, the largest of which are indium and tungsten. These metals have been sleeping in the warehouse for three years, and the inventory cost? Goods loss? The specific status quo is not yet known to the outside world. However, in any case, these metals will be an important factor affecting market prices. Once they enter the market, market prices will fluctuate.

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