zondag 25 januari 2015

Copper Contango Update

As you know, copper prices plunged last week and we see now a surge in copper stock confirming the glut of copper in the markets. Copper is now going back from backwardation to contango, but we're still in backwardation territory, so expect copper to be weak going forward.

Oil on the other hand is still in contango and will be bottoming out in the next few months.

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