New York copper market tightens again, piling pressure on shorts

  • 📰 mining
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 53%

المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

No 1 source of global mining news and opinion

Spot copper prices are again trading at a steep premium to later-dated futures in New York, putting fresh pressure on holders of short positions after a

The global copper market is comfortably supplied overall, and equivalent spot contracts in Shanghai and London are trading at deep discounts to futures. But inventories in Comex warehouses have fallen to a 15-year low, and last month’s squeeze has forced traders to scramble to find and ship the select brands of copper that can be delivered into the US to settle their exposure.

For investors without the means to deliver metal, the backwardation means that they’d face losses buying back their shorts and rolling them forward to later dates. And to get out of the contracts, they’ll be at the mercy of holders of long positions who stand to profit taking the opposite side of the trade.

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 449. in SA

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين