Mystery trader captures 80pc of London's copper market

[MarillionFan]

I've got some old pipes in the back yard. Do you reckon I should phone JPM?

[Freamon]

The bank obviously, not the man himself.

J. P. Morgan - Wikipedia, the free encyclopedia

[scooterscot]

It's not longer a mystery.

JP Morgan revealed as mystery trader that bought £1bn-worth of copper

Stupid speculators.

I'm not expert but the world stock of copper but Bolivia is practically made out of it. Just who are they trying to hold to ransom?

This pushed up the price for the immediate delivery of copper to $8,700 – its highest level since the financial crisis in October 2008.
A high premium on the spot copper price normally reflects fear of a shortage of the metal,

JP Morgan panicking? Trying to make money before their inevitable losses on Silver.

[d000hg]

According to the rules of the London Metal Exchange, the trader must lend out copper if it holds between 50pc and 80pc of the total to maintain day-to-day liquidity in the market

Does that mean once you reach 80% you attain immunity and can just sit on it?

[TykeMerc]

"Moving into"? He's already in Birmingham.

You have a point there.

[MarillionFan]

Someone's been buying all the gold, silver and other metals too.

We can rule out Gordon Brown.

[TimberWolf]

Someone's been buying all the gold, silver and other metals too.

[RichardCranium]

You're moving into a public toilet?

"Moving into"? He's already in Birmingham.

[HairyArsedBloke]

Nobody should be allowed to control such high share of the market for the same reasons monolies are controlled or not allowed at all.

Here is wisdom:

And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is AtW.

[MarillionFan]

I know whose cornered it! HAROLD!

[TykeMerc]

I've got 3 in new place - perfect for large parties

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Nobody should be allowed to control such high share of the market for the same reasons monolies are controlled or not allowed at all.

You're moving into a public toilet?

[AtW]

AtW might be getting an indoor lav soon.

I've got 3 in new place - perfect for large parties

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Nobody should be allowed to control such high share of the market for the same reasons monolies are controlled or not allowed at all.

[Paddy]

More: Mystery trader captures 80pc of London's copper market - Telegraph

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Ok, ffs - how is that not market manipulation? How is it even ******* possible for a single trader to remain unknown whilst getting such a massive stake?

[HairyArsedBloke]

He is not unknown - just not publicly named. It's not market manipulation; just a fracking large position.

Maybe he has a lot of bedsits in Birmingham that he wants to re-plumb? AtW might be getting an indoor lav soon.

[AtW]

The unknown buyer has been building up the dominant position since at least last week, putting a squeeze on the market.

According to the rules of the London Metal Exchange, the trader must lend out copper if it holds between 50pc and 80pc of the total to maintain day-to-day liquidity in the market. The trader is currently lending at a 0.5pc premium to the cash price.

The premium for spot price copper over delivery in three months' time reached $89 in the middle of this week - the highest in two years.

More: Mystery trader captures 80pc of London's copper market - Telegraph

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Ok, ffs - how is that not market manipulation? How is it even ******* possible for a single trader to remain unknown whilst getting such a massive stake?