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Senator Carl Levin: JPMorgan Chase’s Copper ETF May Disrupt Copper Supply
Jul. 17, 2012 03:44PM PST
Base Metals Investing 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.
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.
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| Commodities | |||
|---|---|---|---|
| Gold | 2382.91 | +1.10 | |
| Silver | 28.10 | -0.79 | |
| Copper | 4.33 | -0.05 | |
| Oil | 85.31 | -0.10 | |
| Heating Oil | 2.66 | 0.00 | |
| Natural Gas | 1.68 | -0.02 | |
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