Bloomberg reported that in advance of JPMorgan Chase & Co’ s planned launch of a copper-backed fund in the U.S., the market value of the only copper-backed ETP nearly tripled in a month.
As quoted in the market report:
Many investors look at copper as one of the better ways to play the global industrial cycle,” Nicholas Brooks, the head of research and investment strategy at ETF Securities, said by phone in London today. “With the U.S. economy showing clear signs of recovery, and China also showing signs of recovery now many investors are looking at copper as a key beneficiary of this.
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