SAN FRANCISCO (MarketWatch) — A single trader holds up to 90% of the copper in London Metal Exchange warehouses, the Wall Street Journal reported late Tuesday.
The news came after copper prices hit a record and other commodities surged. Read about metal gains here.
The London Metal Exchange reported Tuesday that the trader holds 80% to 90% of the copper in its stockpiles, which is equal to about half of all the exchange-registered supply of the metal in the world, the Journal said. The position is worth about $3 billion, it added.