mystery hand scoops up copper

[jeff of pa]

LONDON/NEW YORK, Dec 20 (Reuters) - Someone has made a near billion-dollar bet on copper this week, virtually cornering the world's key stocks of the metal.

That has stoked worries of a supply squeeze, as warehouses run low on a raw material vital to global industry, and has raised questions about commodity exchanges' efforts to curb attempts to manipulate prices by aggressively heavy trading.

The Big Squeeze - mystery hand scoops up copper | Reuters

 

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[pepperj]

That's a very interesting article and somebody that has deep pockets to try such a large play.

 

[jeff of pa]

I was tempted to post it under Precious Metal

Would of course be cool if they could drive the price that high
with all the Copper pennies floating around out there

 

[Marchas45]

Believe it or not Jeff but it is a Precious Metal. Lol

 

[Jason in Enid]

Maybe somebody knows about new rules or info coming down the pike.

 

[TheHarleyMan2]

My bet would be that China has a hand in it!

 

[NHBandit]

It's the goobermint trying to make it harder for us to get boolits..... Oh wait.. that's lead.. never mind. lol

 

[hobo finds]

It's the goobermint trying to make it harder for us to get boolits..... Oh wait.. that's lead.. never mind. lol

Copper bullets now http://www.foxnews.com/us/2013/12/2...force-switch-to-green-ammo/?intcmp=latestnews

 

[Davers]

Very interesting.
Thanks for the link.
Davers

 

[davest]

I'm a little late to this thread but didn't JCMorgan, the bank, just do the same thing with aluminum? They bought a lot of it, put it in their warehouses and everytime they moved it in and out the doors they raised the price, on the same metal, over and over.

It's amazing what having a large amount of money will allow you to do.

 

[pat-tekker-cat]

I'm also wondering if anything more has been reported about this.
I have a good friend with a commodity broker business, specializing in international metals trade.
I can't round him up atm, (makes me wonder now what his "proposal" was, right before Christmas).

I also wish I understood a little more than I do about it all. They(the article) were talking LME trades, I thought another friend did this through COMEX.
So what's up? Anyone know yet?

 

[Peyton Manning]

don't look at me