London Daily

Focus on the big picture.
Saturday, Jul 05, 2025

Chinese Man Jumps Into Superheated Blast Furnace After Losing Fortune on Stock Market

Chinese Man Jumps Into Superheated Blast Furnace After Losing Fortune on Stock Market

In comparison to many of the world's major economies, China's has been enjoying rapid recovery rates, largely to due to a quick lifting of coronavirus lockdown measures. However, the country's stock market rally has since been impeded by tensions with western governments, including the US, and new rounds of sanctions.

A 33-year-old Chinese worker at the Baotou Steel factory has committed suicide by jumping into a working blast furnace containing molten metals at temperatures as high as 1,500 degrees Celsius (2,700 degrees Fahrenheit), the company operating the plant reported. Baotou Steel said that Wang Long, who has been working at the factory for 10 years, went missing on 24 March during his night shift.

His mysterious disappearance was soon explained after the company reviewed surveillance footage from that night. The video, which eventually surfaced on Chinese social media causing shock, showed Wang Long taking off his helmet and gloves, and throwing them into the furnace only to follow them in a few moments.

Baotou Steel alleged in its statement that the worker's brutal suicide was triggered by the loss of $9,100 on the stock market and the inability to "repay his heavy debts". It is unclear if Wang Long left a suicide note.

On the day of Wang Long's suicide, China's stock market fell sharply, with the country's indices dropping to a three-month low. China's stocks have mainly been bullish since the middle of 2020 largely due to the country's rapidly declining COVID-19 infections and swiftly recovering economy due to a fast lifting of the pandemic restrictions. However, the trend turned bearish in the middle of February, with Shanghai Stock Exchange (SSE 180) index falling to December 2020 levels.

Economists have attributed the decline in the Chinese stock market to a variety of issues ranging from the expected ending of the coronavirus stimulus measures to increasing tensions between Beijing and western nations. The latter have introduced a number of sanctions against China under the pretext of allegations of human rights abuse in Hong Kong and Xinjiang, which Beijing strongly denies.

The stock prices of Chinese companies may also be influenced by a lack of change in US policy towards Beijing, despite the departure of Donald Trump. Washington indicated during a recent summit in Alaska that it intends to confront China on a number of issues, such as presumably improper trade practices and alleged involvement in cyberattacks against the US. At the same time, the White House did not say it intends to lift restrictive measures against Chinese companies, such as Huawei, introduced under the previous administration.

Comments

Oh ya 4 year ago
Well he only lost money if he sold his stocks same as bitcoin people only make money if they find a bigger sucker and sell. But it would be a quick way to go.

Newsletter

Related Articles

0:00
0:00
Close
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
×