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Copper Shorts At 2-year High; Investors Hedge Sentiment U-turn
Mar 20,2012 08:44CST
industry news
Source:SMM
London-based exchange-traded product provider ETF Securities Monday said its short copper fund recorded the largest inflows in more than two years last week.

LONDON, Mar 19, 2012 (Dow Jones) -- London-based exchange-traded product provider ETF Securities Monday said its short copper fund recorded the largest inflows in more than two years last week as investors looked to hedge a potential reversal in sentiment following recent economic optimism across the financial markets.

It said ETFS Short Copper (SCOP.LN) posted a net inflow of $26 million last week, despite choppy trading in which its long copper products also recorded net inflows. The growth in the fund, which was launched in 2008, was the strongest in more than two years and took net inflows year-to-date to $82 million.

Broader market sentiment has turned increasingly positive after a string of U.S. economic data beat consensus forecasts, damping hopes of further monetary stimulus in the world's largest economy, and concerns over the euro-zone debt crisis also eased. However, market analysts are wary sentiment could sour should U.S. data start missing forecasts and China show further signs of slowing.

 

short copper fund; the largest in more than two years

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