Physical copper ETFs would ‘wreak havoc’: Luvata’s exec
Dec 14, 2012 | 10:55 AM
| Andrea Hotter
Tags
exchange-traded funds,
ETFs,
copper,
Luvata,
Bob Kickham,
JPMorgan Chase,
BlackRock,
Securities and Exchange Commision
SEC
NEW YORK — Financial instruments such as physical copper exchange-traded funds (ETFs) will "wreak havoc" on the market, distorting prices and increasing volatility, according to a senior executive at one of the world’s largest consumers of the metal.
Bob Kickham, a senior vice president at London-based Luvata UK Ltd., told AMM that the company has a "fundamental objection" to physical copper ETFs and similar financial instruments, a view it has taken to the U.S. Securities and Exchange Commission (SEC) as it considers whether to approve their launch.....
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