$Rig's Platinum Penny Alerts

[J-Rhino]

Copper May Rise as ETPs Start Trading in London, Survey Shows

Dec. 10 (Bloomberg) -- Copper may rise as the first exchange-traded products in industrial metals heighten speculation of a metal shortage, a survey showed.

Ten of 16 analysts, investors and traders surveyed by Bloomberg, or 63 percent, said the metal will gain next week. Five predicted lower prices and one forecast little change. Copper for delivery in three months was up 2.8 percent for this week at $8,972 a metric ton at 3 p.m. yesterday on the London Metal Exchange.

Prices yesterday rose to a record $9,091 in London ahead of the launch of the exchange-traded products and as copper inventories tracked by the LME shrank further. ETF Securities Ltd. said Dec. 7 products backed by copper, nickel and tin will start trading on the London Stock Exchange today. JPMorgan Chase & Co. and BlackRock Inc. have also announced plans to start similar products holding industrial metals.

http://www.businessweek.com/news/2010-12-09/copper-may-rise-as-etps-start-trading-in-london-survey-shows.html