Unknown buyer was built in the dominant position since last week at least, to a dealer on the market.
According to the rules of the London Metal Exchange, the merchant must lend copper if it holds between 50pc and 80pc of total keep cash in day agenda on the market. The trader is currently ready for a 0 5pc premium for the cash price.
The premium prices for copper cash on delivery within three months reached $89 in the middle of this week - the highest within two years.
London stock fell more than a third since their levels at the beginning of the year.
LME Copper was stable at $8,720 per tonne this morning, after having reached a maximum of $8,732 earlier. A record price of $8,966 hit in mid-November.
Large position is not the only reason why the price of copper is high.
There are fears of a supply shortfall next year, as mine production should not at the same pace as demand bounce after the recession.
Two investment banks us and a UK company also want to launch traded exchange of funds tied to copper, which is likely to suck up the market demand.
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