Shares in Europe’s biggest copper producer Aurubis fell more than 15% midday on Friday after the company said it was the victim of a metal theft worth hundreds of millions of euros.

“During a planned inventory of metal stocks, Aurubis discovered significant discrepancies (…) that led us to the conclusion that we were the target of fraud. We turned to the State Department of Criminal Investigations for support,” the company said in a statement.

The exact cost of the damage cannot yet be accurately estimated, but the company does not rule out that the damage reaches several hundred million euros.

The scandal happened about two months after another one that rocked the metal industry. Global company Trafigura has accused Indian-origin trader Pratik Gupta of a $590 million nickel fraud.

China was also hit with metal fraud scandals last year, when an investigation into the fraudulent use of aluminum stocks spread to three companies suspected of repeatedly pledging aluminum stocks.

The investigation began after trader Ping An Trading Co Ltd was tricked into financing 30,000 tonnes of aluminum ingots with capital of 600 million yuan, when the actual stock in a warehouse in Guangdong province was much higher.