The copper market is in a state of extreme contango—a state of the futures curve where futures contracts trade at a premium to the spot price and signal weak prompt demand. The cash to three-month contango on the London Metals Exchange (LME) jumped at the end of September to the highest since at least 1994 in data compiled by Bloomberg, as inventories pile up while demand seems to falter. Analysts say that increasing inventories signal weakening demand amid slowing global manufacturing and a weak…
- connect@energyinternat.com
