May 10, 2017 / 3:34 AM / 5 months ago

Metals hedge fund Red Kite says copper scrap supply has tightened

HONG KONG, May 10 (Reuters) - Supply of copper scrap has tightened recently after growing in the first quarter of the year, David Lilley, partner and co-founder of metals hedge fund and trader RK Capital Management, said on Wednesday.

Speaking at the LMEWeek Asia conference in Hong Kong, Lilley said higher scrap supply had dragged on copper prices earlier in 2017.

He added that it was “hard to be optimistic” about nickel prices due to the supply outlook. (Reporting by Josephine Mason and Melanie Burton; Editing by Joseph Radford)

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