Senator Carl Levin: JPMorgan Chase’s Copper ETF May Disrupt Copper Supply

Bloomberg reported that according to Senator Carl Levin, JPMorgan Chase & Co.’s proposed copper ETF may disrupt copper supply and “create a bubble and burst cycle” in the copper market.

As quoted in the market news:

JPMorgan, BlackRock Inc. (BLK) (BLK) and ETF Securities Ltd. have said they planned to start exchange-traded funds for industrial metals. ETF Securities started the first exchange-traded products backed by copper, nickel and tin in London in December 2010.

Click here to read the full Bloomberg report.