The short squeeze in HG #copper seems to have run its course for now, potentially signaling a retracement to levels better reflecting current fundamentals. The chart shows the unusual spike in the July-August spread from around a 1 cent contango to a 12 cent backwardation
Chart source: Bloomberg
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The short squeeze in HG #copper seems to have run its course for now, potentially signaling a retracement to levels better reflecting current fundamentals. The chart shows the unusual spike in the July-August spread from around a 1 cent contango to a 12 cent backwardation
Chart source: Bloomberg