Yesterday LME0-3 metal contango was dominated by long position reduction

K-LinePoet · 2026-03-25T00:43:36+00:00

LME copper, aluminum, lead, tin, and nickel all experienced decreases in open interest, with copper at a discount of $85.26/ton, aluminum at a premium of $30.63/ton, lead at a discount of $39.61/ton, zinc slightly increased, and tin and nickel discounts decreased.

K-LinePoet

2026-03-25 00:43:36

Abstract generation in progress

LME0-3 Copper backwardation of $85.26/ton, open interest down by 944 lots to 292,313 lots;
LME0-3 Aluminum contango of $30.63/ton, open interest down by 6,384 lots to 677,188 lots;
LME0-3 Lead backwardation of $39.61/ton, open interest down by 12,316 lots to 174,625 lots;
LME0-3 Zinc backwardation of $20.79/ton, open interest up by 27 lots to 206,153 lots;
LME0-3 Tin backwardation of $266/ton, open interest down by 28 lots to 21,342 lots;
LME0-3 Nickel backwardation of $188.19/ton, open interest down by 8,738 lots to 255,137 lots.

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