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Copper Backwardation Collapses After 20,000 Tons Hit LME Warehouses | OilPrice.com

Trafigura and other traders delivered metal to LME warehouses, collapsing copper’s backwardation to $248 from $545 as the historic squeeze cracked.

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Trafigura and other traders delivered metal to LME warehouses, collapsing copper’s backwardation to $248 from $545 as the historic squeeze cracked.

LME copper warehouses received over 35,000 tonnes in a week, breaking a 42-day drawdown streak as Trafigura deliveries eased a historic supply