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Mercuria’s copper grab from LME Asia intensifies supply angst
Commodity trader Mercuria has given notice of its plans to take significant amounts of copper from London Metal Exchange warehouses in Asia, four sources familiar with the matter said, as prices rise on expectations of short supplies. Anticipated shortages next year partly due to mine supply disruptions including accidents in Indonesia and Chile and accelerating demand growth pushed LME copper prices to a record high of $11,540 a metric ton on Wednesday. Swiss-based Mercuria cancelled or earmarked for delivery more than 40,000 tons of copper in LME storage facilities in South Korea and Taiwan on December 2, according ... (full story)
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