LIVE FUTURES REPORT 13/08: Copper leads prices downward as market rally runs out of steam

August 14, 2020 / www.metalbulletin.com / Article Link

London Metal Exchange copper futures fell toward the 5pm close on Thursday August 13, failing to stabilize above the level of $6,400 per tonne.

The LME's 3-month copper price closed at $6,256 per tonne, down by $176 per tonne from Wednesday's close, to the lowest since last Friday.
Tumbling three-month prices have exacerbated a backwardation in the nearby forward curve. The cash/three-month spread was now $7.50 per tonne backwardated, compared with $2 per tonne on Wednesday.

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