Storage costs would kill copper ETF: Abbott
Nov 28, 2012 | 02:45 PM
| Mark Burton
Tags
copper,
ETF,
LME,
Martin Abbott,
BlackRock,
JPMorgan Chase,
Mark Burton
SHANGHAI — The cost of storing physical copper relative to the price of metal eliminates the possibility of a successful physical copper exchange-traded fund, according to London Metal Exchange chief executive officer Martin Abbott.
Commenting on the likely effect of ETFs planned by the likes of JPMorgan Chase & Co. and BlackRock Inc., Abbott said he maintains the view that the costs of storage and other complications will make it difficult for the products to take off. ....
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