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This profile was last updated on 3/28/13  and contains information from public web pages.

Employment History

  • Copper Futures Trader
    State Reserve Bureau
  • Deputy Head of Imports and Exports
    State Reserve Bureau
  • Senior Trader
    State Reserve Bureau
  • Deputy Chief of the Import and Export Division
    State Regulation Center of Supplies Reserve
  • Trader
    State Regulation Center of Supplies Reserve
  • Trader
    National Control Center of the State Reserve Board
  • Copper Dealer
    Chinese State Reserve Bureau
  • Leading Dealer
    London Metal Exchange
  • Deputy Head of Imports and Exports
    China's State Reserve Bureau
132 Total References
Web References
Liu ..., 11 June 2012 [cached]
Liu Qibing
10. Liu Qibing
Of all the rogue traders on this list, the most mysterious is certainly vanishing Chinese copper trader Liu Qibing. Liu reportedly was a trader for China's State Reserve Bureau when he borrowed large quantities of copper to sell, with the expectation that prices would fall. Instead, copper prices rose dramatically when China's central bank began lending increased sums to real estate developers, many of whom needed the metal for wiring. Liu vanished in the wake of the scandal, leaving the Chinese government to replace the borrowed commodity from its own stockpiles.
Though the Chinese government initially denied Liu's existence, they eventually detained him for questioning. He was reportedly sentenced to seven years in prison.
2005 « November « Michael Covel: Trend Following Manifesto, 1 Nov 2005 [cached]
Citing a source close to China's State Reserve Bureau (SRB), the South China Morning Post reported that SRB copper futures trader Liu Qibing took short positions equal to about 130,000 metric tonnes of copper in July and August. At the time, Liu paid about 3,300 dollars a tonne, expecting the price of copper to decline. Copper prices for delivery in three months' time are now about 4,119 dollars a tonne, the paper said. "Liu disappeared from the market in early October and that week the bureau recovered about 50,000 tonnes of short positions on the London Metal Exchange, which pushed prices up to about 3,800 dollars a tonne," the source said.
Independent Online Edition > Business News, 17 Nov 2005 [cached]
The move comes two days after it emerged that Liu Qibing, the deputy head of imports and exports at the SRB, had taken out a substantial bet that prices would fall.
On-Line Tube Resources - Welcome To Tubelinks - Homepage, 1 Nov 2007 [cached]
The shadow cast by the dealings of Liu Qibing, senior trader at the SRB, was a long one in terms of the disruption to China's net trade patterns.That disruption has bedevilled statistical analysis of the Chinese market ever since.
Fiasco exposes Chinese stockpile - Business Asia by Bloomberg - International Herald Tribune, 21 Nov 2005 [cached]
The reserve bureau may have to deliver as much as 200,000 metric tons of copper because of positions amassed by the trader, Liu Qibing, the state-run China Daily said Thursday.
Liu has been on leave from his job since October, people who know him told Bloomberg News last week.They spoke on condition that they not be identified. Liu built up so-called short positions, betting that copper prices would fall, China Daily reported, meaning that he entered a contract pledging to deliver copper at a later date at a set price.His bet was that as prices fell, he would buy the copper back when it was cheaper and pocket the difference. Copper has gained 34 percent this year, after rising 37 percent last year. Liu worked as the deputy chief of the import and export division of the State Regulation Center of Supplies Reserve, a government agency that traded metal for the reserve bureau. The trader, who speaks English and sometimes attended industry conferences, is known to brokers at the London Metals Exchange, who say they competed for his business.
Other People with the name "Qibing":
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