Industrial copper users including AmRod Corp., Southwire Co. and Encore Wire Corp. (WIRE) urged U.S. regulators to reverse a decision clearing the way for a JPMorgan Chase & Co. (JPM) exchange-traded fund backed by the metal.
The user group has said that the JPM XF Physical Copper Trust, the first U.S. exchange-traded fund backed by physical copper, would leave less for manufacturers, creating shortages and boosting prices.
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Best Regards Tom.