Metalsome Hedgers Take Zoom Out of Boom

Longer term, the increased use of the hybrid electric car will see more oil-based transport energy swung across to copper as battery power supplements petrol....

Published: 15-Oct-2004

HAS the metals boom ended for the short term? Obviously it is too early to tell, but the signs are not good because the big hedge funds are exiting.

In the old days, metals moved in accordance with demand and supply predictions and the levels of stock.

While that is still the case, movements are currently multiplied many times because some of the biggest metal speculators have become the highly leveraged hedge funds.

For most of 2004, the hedge funds have been nervous about the slowdown in China, but recent reports indicated that it would be mild.

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