dinsdag 11 juni 2013

Copper Contango Report Shows Weakness to Come

We thought that the contango was going back to backwardation, but lately we see a reversal again.

This is a not so positive development for commodities and stocks.

1 opmerking:

  1. The strengthening of the copper contango seems to be supported by Technical Analysis from Paul Kavanaugh at FuturePath Trading LLC, according to this report on Bloomberg.

    Copper dropped to $7,065 per tonne ($3.025/lb)on June 11th, after China's posted its lowest annual export growth rate in almost a year in May at 1 percent, according to Reuters.