May 2012 | Base Metals
Shorts covered, but funds are back firmly on the sidelines: Funds focus
The threat of the euro crisis flaring up again means investors are reluctant to build length in the base metals, but the backwardation in copper and soaring warrant cancellations is deterring shorting. A neutral, risk-off stance is likely to persist until better clarity on Europe and China emerges.
Base metal assets under management (AUM) down...
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