It appears that either Blythe is trying to corner all commodity markets, or the Investments Bankster’s are back in the pits again. While some banks may be making book for their clients, there is no realistic reason for a single trader to have these types of total exposure in the worlds most liquid metals markets.
The WSJ has an article about the London metals markets having huge single trader positions. While everyone knows about the single copper trader with now 90% or more of the market, I doubt most readers know about the following single trader positions…
Single traders also own large holdings of other metals. One trader holds as much as 90% of the exchange’s aluminum stocks. In the nickel, zinc and aluminum alloy markets, single traders own between 50% and 80% of those metals, and one firm has 40%-50% of the LME’s tin stockpiles.
So we know that JPM is the big dog in Copper longs with their new physical Copper ETF buying in, and with its documented Silver shorts.
So the question becomes, is JPM also busy in all of these other markets? or is a group of banks each picking up a commodity or two, and going ALL IN for some reason? Is this a sign of collusion? or of realistic trading of position for clients? or finally, is this for an upcoming sovereign debt crisis that everyone sees coming but no one can admit will happen sooner rather than later?
I think it might be time to try and corner the popcorn market. There is going to an increase in demand, as the whole world gets a view of exactly what the Bankster where wearing as the tide goes out.