Tuesday, June 17, 2014

Shanghai copper backwardation swells in squeezed market

Shanghai copper backwardation swells in squeezed market
The backwardation on the Shanghai Futures Exchange (SHFE) expanded sharply on Monday June 16, as some holders of short positions were squeezed ahead of the exchange’s June prompt date.

The outright price on the June copper contract, with delivery date of Monday, surged by some 1,590 yuan per tonne, or about 3.25%, in just the final half an hour of trading. The contract closed at 50,450 yuan per tonne, some 2,710 yuan per tonne higher than the September contract. "The large backwardation and the increase in the June contract are due to long investors squeezing the market," the head of futures at one big smelter said.



MonthOptionsChartsLastChangePrior SettleOpenHighLowVolumeHi / Low LimitUpdated
JUN 2014JUN 2014Show Price Chart3.0600+0.01303.04703.06203.06203.057520No Limit01:08:09 CT
17 Jun 2014
JUL 2014JUL 2014Show Price Chart3.0605+0.01053.05003.04803.06453.04455,479No Limit01:08:25 CT
17 Jun 2014
AUG 2014AUG 2014Show Price Chart3.0530 b+0.00603.04703.04453.06003.044015No Limit01:08:09 CT
17 Jun 2014
SEP 2014SEP 2014Show Price Chart3.0535+0.00953.04403.04403.05853.03751,389No Limit01:08:09 CT
17 Jun 2014
OCT 2014OCT 2014Show Price Chart3.0435-0.00153.04503.04353.04353.04351No Limit01:08:09 CT
17 Jun 2014
NOV 2014NOV 2014Show Price Chart3.0525+0.00853.04403.04203.05253.04206No Limit01:08:09 CT
17 Jun 2014
DEC 2014DEC 2014Show Price Chart3.0500+0.00753.04253.04003.05403.0400136No Limit01:08:09 CT
17 Jun 2014

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