In Depth: How Aluminum Giant Zhongwang Inflated Sales Through Shady Dealings

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To engineer a recovery from the U.S. crackdown, aluminum giant Zhongwang entered a new market in 2017 and within a year was in control of half of the Chinese market for high-margin aluminum formworks.

Chinese aluminum giant Zhongwang Group needed a quick fix in 2016. It appeared to quickly find one, at least on the books.

American authorities had launched a probe of suspicious trade flows in several California warehouses, delivering a heavy blow to the company’s export business. The investigation eventually led in 2022 to a fine of $1.83 billion for conspiracy to evade anti-dumping duties.

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