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China metal repo business included in Deutsche Bank commodity cuts

Former commodity heavyweight has also closed its successful metals financing business as part of global restructuring

Taking an axe to budgets
    • Alex Davis

Deutsche Bank’s Asia commodities business has been hit as hard as its US and Europe units by global commodities cuts announced in December, with even the physical metal repo business centred on China being dismantled, according to market sources.

In early December, the bank shocked the market with a surprise announcement that it would cease trading in energy, agriculture, base metals, coal and

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