Single Trader Holds 80-90% of LME’s Physical Copper, WSJ Says-Shanghai Metals Market

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Single Trader Holds 80-90% of LME’s Physical Copper, WSJ Says

Industry News 03:26:20PM Dec 22, 2010 Source:SMM

Dec. 21 (Bloomberg) --A single trader holds between 80 and 90 percent of the copper stored at London Metal Exchange warehouses, equivalent to about half the world’s exchange- registered supply, the Wall Street Journal said, citing market participants.

The holding may be worth as much as $3 billion, and although JPMorgan Chase & Co. recently held a large position in copper, it’s not clear if the latest amount represents an increase by the bank or a new player, the newspaper said.
 

 

 

Single Trader Holds 80-90% of LME’s Physical Copper, WSJ Says

Industry News 03:26:20PM Dec 22, 2010 Source:SMM

Dec. 21 (Bloomberg) --A single trader holds between 80 and 90 percent of the copper stored at London Metal Exchange warehouses, equivalent to about half the world’s exchange- registered supply, the Wall Street Journal said, citing market participants.

The holding may be worth as much as $3 billion, and although JPMorgan Chase & Co. recently held a large position in copper, it’s not clear if the latest amount represents an increase by the bank or a new player, the newspaper said.