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A giant state-owned Chinese commodities trader is facing significant losses after a shipment of copper from Russia, valued at nearly US$20 million, went missing. This incident, reported by ForexLive, has reignited concerns over fraud in metals trading. Additionally, there are growing worries about the ease of cornering the copper market, with analysts cautioning that physical commodity funds, such as the Sprott Physical Copper fund, could potentially sap supply and manipulate the market. Market observers are also questioning whether China's copper demand has been overstated, potentially allowing the country to export at higher prices. Speculation in the commodity markets is also under scrutiny.
Borrowing from the stupid strategy of $GME degens, copper $HG_F speculators will be able, taken to its extreme, to legally and cleverly corner the copper market, writes @JavierBlas I'm bullish copper long term, but this seems contrary to free markets. https://t.co/FBxBeHO8JS https://t.co/IrMe7zBf9G
Cornering the copper market just got a lot easier. Regulators should be wary of physical commodity funds that can sap supply, writes @JavierBlas (via @opinion) https://t.co/Isdz8Isf7J
COLUMN: Cornering the copper market just got a lot easier. "I’m all for encouraging speculation in commodity markets: Hot money plays a key role. But the Sprott Physical Copper fund isn’t a speculative investment vehicle — it’s a hoarding one" @Opinion https://t.co/wGH8soUuCq
