Copper Contango Update

The contango on copper has been topping out as the LME stock level has also topped out. As copper goes back to backwardation, I see the copper price go up from here. It already spiked back to $3.68/lb which is the highest since October last year. And stocks are following nicely with this uptrend.







Chart 1: Copper Contango Vs. Price



Comments

  1. sewa mobil jakartaJanuary 23, 2013 at 2:08 AM

    Nice article, thanks for the information.

    ReplyDelete
  2. AnoniemJanuary 25, 2013 at 9:48 AM

    The source of the Contango is a short term supply shortage as demand from China is picking up, according to Bloomberg: Copper Seen Extending Rally With China Accelerating.

    ReplyDelete

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