Reuters – London-based hedge fund Red Kite Group currently holds more than half of London Metal Exchange copper inventories, the Wall Street journal reported, citing LME traders and brokers.
LME data shows that there is a dominant holder of the LME’s copper stocks, accounting for between 50-80 percent of total metal holdings. That would be worth around $534-$854 million based on prices of $6,675 per tonne.
