Has anyone been following the news on this story? If so, what are your thoughts on it.
The story in the Wall Street Journal reports that one trader–although it’s not known if it’s an individual or an entity–has control of something between 80% to 90% of the physical copper that is listed on the London Metals Exchange (LME).
There are other single traders with large holdings of commodity metals in the LME, as well, to include aluminum, nickel, zinc, and tin.
I’ve been researching it and have read theories on everything from it being China (or another sovereign investment), George Soros trying to break the market, to a Goldman Sachs pump-and-dump scheme.