Page 19 - Michael Widmer News Today : Breaking News, Live Updates & Top Stories | Vimarsana

"Linked to that, we forecast copper market deficits, and further inventory declines, this year and next," Widmer said. "With (London Metal Exchange) inventories close to the pinch-point at which time spreads can move violently, there is a risk backwardation, driven by a rally in nearby prices, may increase." Backwardation is when an underlying asset is trading at a higher price than the futures market for that asset. Widmer also highlighted that a rise in volatility resulting from falling inventories was not without precedent, since nickel shortages in LME warehouses in 2006/7 drove nickel pr...

"Linked to that, we forecast copper market deficits, and further inventory declines, this year and next," Widmer said. "With (London Metal Exchange) inventories close to the pinch-point at which time spreads can move violently, there is a risk backwardation, driven by a rally in nearby prices, may increase." Backwardation is when an underlying asset is trading at a higher price than the futures market for that asset. Widmer also highlighted that a rise in volatility resulting from falling inventories was not without precedent, since nickel shortages in LME warehouses in 2006/7 drove nickel pr...

The world risks “running out of copper” amid widening supply and demand deficits, according to Bank of America, and prices could hit $20,000 per metric ton...

The world risks “running out of copper” amid widening supply and demand deficits, according to Bank of America, and prices could hit $20,000 per metric ton...

London — Copper returned above $10,000/mt on the back of a weak dollar and with China returning to work after a three-day national holiday, with the London Metal Exchange three-month spot copper price trading at $10,117.50/mt ($4.59/lb) at 1749 GMT, some $72.50/mt short of its all-time high of $10,190/mt from February 2011. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Scotiabank analysts said LME three-month copper hit $10,028.50/mt during early May 6 trading, with the red metal dropping to $9,993/mt at 9:00 GMT,...