Normal Backwardation - Examples

Examples

Notable examples of backwardation include:

  • Copper circa 1990, apparently arising from market manipulation by Yasuo Hamanaka of Sumitomo Corporation in what has come to be called the "Sumitomo copper affair".
  • Silver: In 2009 has been in backwardation since late January. This is due to suspected long term price suppression by JP Morgan as cited by Ted Butler.

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