Metals Prices Remained Mostly Muted This Month; Even Raw Steel Prices Look To Soften

As I often do, I learned something from Metal Miner this month. Copper and raw steel prices are providing a lesson in the difference between “contango” and “backwardation.” I had to look it up. Global copper prices are currently experiencing one of the most pronounced cases of contango in decades, according to Metal Miner. Contango occurs when spot…