The authorities already know of one copper trader who said he had been asked to confirm fictitious trades by Mr. Hamanaka in 1991.

Some copper traders and consumers have started to grumble that buyers may be stockpiling supplies without counting them as inventory, creating artificial shortages.

Sumitomo announced late yesterday that unauthorized trades over a 10-year period by a former copper trader, Yasuo Hamanaka, had cost the company $1.8 billion.

Their response to customers is incredibly quick for any brand, any amount and any time," said a rival copper trader.

"They must have made a loss on the physical business to gain a big share," said another Japanese copper trader.

Sumitomo, the world's largest copper trader, declined to comment on its trading or copper holdings.

Mr. Hamanaka was known throughout the world among copper traders.

The Chinese news media blamed a lack of skill among Chinese copper traders in hedging their bets for the losses, not malfeasance.

Neat, election-tanned and confident as the copper trader he once was, Farage moves conspicuously through the empty village with his posse of henchmen.

"He is such a famous person that one would imagine he is flamboyant," said a copper trader at another company.