I have predicted lower copper prices and I still predict much lower copper prices going forward. Because we are still going deeper into backwardation with a very weak copper price. When the red curve moves up again, copper prices will plunge.
As you can see, also at the LME, the stock levels are going up, which supports a move into contango.
Although I have to mention that the large commercials are going long copper, which is odd to me.
As you can see, also at the LME, the stock levels are going up, which supports a move into contango.
Although I have to mention that the large commercials are going long copper, which is odd to me.
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