Commodity Trade Mantra

Posts Tagged ‘LME Backwardation’

Copper Breaches $5000, Breaks Below 15-Year Trendline

The plunge in copper means almost one in five mines globally is losing money. Some mines will have to cut supply or close if prices stay so low. While disruptions in mining have reduced supply, it’s not been enough to support prices. Copper producers are likely to miss production targets by up to one million tons this year. This should provide a cushion for copper prices.

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