ETFs for physical copper market condemned

The launch of ETFs for the copper market will create a "fictitious" market, according to major South American producer

The launch of exchange-traded funds for the physical copper market will add no value and create a "fictitious" market driven no longer by fundamentals, the chief executive of Antofagasta, the South American copper miner, has told Dow Jones.

"I don't see any added value from ETFs, and I think they will generate a fictitious market," Marcelo Awad said during the annual CESCO industry week in Santiago, Chile.

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