Feb 23 (Reuters) - Shanghai Dalu Futures, a brokerage on the Shanghai Futures Exchange, has amassed a $1 billion long position in copper contracts within just four days, bourse data showed.
The move comes as copper prices roughly doubled from levels seen less than a year ago thanks to a resurgence in global industrial activity and a slew of stimulus measures that look set to increase consumption, while supply remains tight.
In the four trading days after the Lunar New Year holiday, the little-known brokerage boosted its copper long positions by more than 800% to emerge as the top long position holder of the May, June and July ShFE copper contracts, visible ShFE data showed.
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