Copper users attack SEC

Copper users are attacking the SEC, saying its decision to approve JPMorganXF Physical Copper Trust ETF is “arbitrary and capricious,” reports ft.com.

The move would allow the product to hold actual inventory, rather than merely trading in futures contracts, adds ft.com. As a result, copper users claim the SEC had insufficient evidence for its conclusion that the launch of the product would not affect supply of the metal.

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