The opponents believe that since copper is used in construction, consumer electronics and in the automotive industry, the overall economy could be harmed if that happens.“Approval of this commodity-based security is a blow to American businesses and consumers that rely on copper for industrial machinery, plumbing, transportation, electric power generation and transmission, and electronics,” Michigan Democratic senator Carl Levin said in a statement in response to the SEC ruling.
JPMorgan Copper ETF Approved, But Fear Of Shortage Remains
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