Thursday, October 12, 2006
LME Says There's No Evidence Copper Was Buoyed by Speculation
Bloomberg.com
The London Metal Exchange, the world's largest marketplace for aluminum and copper, said it found no evidence that copper's price gains were artificially buoyed by speculation.
And yet ... that's not really what he was quoted as saying.
Not a shred of evidence has been presented
Gains in copper were from demand and supply in the market, ``not by any mischief on the LME,'' Brydon said.
No evidence presented is not the same as it didn't happen.
And "no mischief at the LME" is not the same as speculation played no role in the runup in prices.
So I found this a very strange article, leaving more questions than answers.
The London Metal Exchange, the world's largest marketplace for aluminum and copper, said it found no evidence that copper's price gains were artificially buoyed by speculation.
And yet ... that's not really what he was quoted as saying.
Not a shred of evidence has been presented
Gains in copper were from demand and supply in the market, ``not by any mischief on the LME,'' Brydon said.
No evidence presented is not the same as it didn't happen.
And "no mischief at the LME" is not the same as speculation played no role in the runup in prices.
So I found this a very strange article, leaving more questions than answers.
Labels: Copper
