EY to access Dongying Fangyuan in financial distress; foreign banks weigh exposure

摘要

International auditing and advisory firm EY has stepped in to assist China’s biggest private copper smelter, Dongying Fangyuan, in navigating problems with frozen assets, lawsuits and access to credit, Fastmarkets has learnt. “The situation is getting better,” a source with direct knowledge of the matter said, without elaborating on the progress and scope of EY’s assistance. The Shandong-based smelter, China’s fourth-largest copper maker, is currently running at limited capacity.