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Bullish copper bets go wrong as hedge funds ignore warnings

Money managers saw the value of the metal plunge last week, halting the longest rally in a decade

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Disruptions at Grasberg and BHP Billiton's Escondida mine in Chile (left) had pared global output in the first five months of the year, causing a shortfall in refined metal for three straight months through May, according to the International Copper Study Group.

Washington

Hedge funds ignored the warnings about the red-hot copper market, and it may have cost them.

After amassing their largest holdings ever, money managers saw the value of the metal plunge last week, halting the longest rally in a decade....

sentifi.com

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