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JUN 06, 2014 - Zero Hedge

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Copper Plunges Most In 3 Months As "Rehypothecation Evaporation" Concerns Grow

Copper prices accelerated lower overnight and are sitting at 5 week lows following rapidly growing fears that the commodity warehousing probe will uncover exactly what we have been warning about for months - there is no 'there', there. As we explained in great detail here and here, the discrepancy of reportedly 80,000 tonns of aluminum and 20,000 tonnes of copper is sparking wholesale liquidations as carry traders, lenders, and borrowers all scramble to find out if their promised commodity is there. Iron ore, which has seen its price tumble dramatically, is also on the watch list as ... Read More

Tags: Copper Plunges Most In 3 Months As "Rehypothecation Evaporation" Concerns Grow,  Commodities Latest News