Copper chaos is latest in a rich history of wild metal swings
The wild moves in the copper market this week have sent traders into the history books.
Source: moneyweb.co.za
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Copper chaos is latest in a rich history of wild metal swings
While there's been no suggestion of wrongdoing in this month’s squeeze, the LME has a rich history of wild price moves when markets are over- or undersupplied.
Source: mining.com
Copper Chaos Is Latest in Rich History of Wild LME Moves
The wild moves in the copper market this week have sent traders into the history books. As inventories on the London Metal Exchange dropped to the lowest in decades, the price of contracts for immediate delivery surged to a record premium of more than $1,000 a ton to contracts for delivery in three months — the hallmark of a supply squeeze. The exchange has responded by launching an inquiry and imposing emergency rules.
Source: bloombergquint.com