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Copper Backwardation Collapses After 20,000 Tons Hit LME Warehouses

Trafigura Group and several other traders delivered more than 20,000 tons of copper into LME warehouses on Tuesday, the biggest one-day build in on-warrant stock since April, and the squeeze that had…

  • 20,000 tons of copper delivered to LME warehouses on Tuesday
  • Copper prices settle at $248-a-ton backwardation, down from $545

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