ETF Securities defends industrial metal ETCs

The firm recently launched individual ETCs in copper, nickel and tin products, each with an initial holding of one warrant. This translates to 25 tonnes of copper, six tonnes of nickel and five of tin. The funds' physical assets have the potential to grow significantly, especially as ETF Securities co-head of European sales Scott Thompson anticipates one of the company's most successful product launches. This prospect has fuelled criticism of physically-backed base metal funds, particularly since a group of unidentified traders wrote to the FSA back in November warning of the dangers...