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How speculators are crippling the copper industry

Posted on 22 October 2010

From Spiegel.de: Hedge funds and other major investors are always looking for new places to park their cash. Now copper is attracting the hot money, causing the price of the metal to fluctuate wildly. Key industries are warning of the consequences.
In northern Chile, on the high plateau of the bone-dry Atacama Desert, machines have cut a giant hole in the Earth’s crust. The crater is three kilometers (1.9 miles) wide and almost 1,000 meters (3,280 feet) deep. It grows larger every day. And as it grows, the Chilean state becomes wealthier……………………………………….Full Article: Source


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VRS - who has written 39433 posts on Opalesque Commodities Briefing.


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