January 2012 | Base Metals
A price rally in January is not uncommon: Funds focus
A January price rally like the one we have seen this year is not uncommon, on the back of new year fund allocation being released and commodity index reweightings. The question is whether the speculative gains of the past month will stick. We doubt it.
LME open interest data shows that short covering has been the dominant driver of base...
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