The $1.5bn (£1bn) trade was described in the LME's daily update as "between 50pc and 80pc" of the 350,000 tonnes in reserves. This pushed up the price for the immediate delivery of copper to $8,700 – its highest level since the financial crisis in October 2008...
[Copper]is in hot demand across the world as a vital component in a mass of products from electrical gadgets to wiring.
Whether JPMorgan is buying for its own account, or for a client, someone is obviously very bullish about the copper price.
Pre 82 Pennies still cost a cent.
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