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Thrill is gone as metals investors start to ditch ETFs

About US$90.4m has been removed on a net basis last month through June 28, heading for the largest outflow since July 2015

A long list of mine disruptions this year has helped to push copper prices higher. Those include a contractual dispute inhibiting shipments from Freeport-McMoRan's Grasberg mine in Indonesia (above).

New York

AFTER luring investors this year with tantalising glimpses of renewed Chinese demand and supply constraints, industrial metals are losing their lustre.

Money is exiting long-only exchange-trade funds (ETFs) in a torrent, and hedge funds and other large speculators are...