HOTLINE: ‘Shadows everywhere’ at Glencore

May 11, 2012 | 08:29 AM |

As a small backwardation emerged in London Metal Exchange zinc spreads this week, Hotline’s sources, in the absence of any firmer evidence, offered what is becoming a de facto explanation for any moves at all in the metal markets. “I haven’t looked at it closely but I’d assume it’s Glencore,” one broker source said.....

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