| Contrary to those teachings, the normal condition of the futures markets is one of contango, not backwardation. |
| The contango or backwardation is recorded in the income statement when the swap expires. |
| One analyst said the falling price of nickel would come as a relief to U.S. buyers who recently had to deal with a steep backwardation that squeezed short positions. |
| I am sure that your position is a hedge, but if your physical metal is delayed, you may have to borrow at this backwardation. |
| There has been no damage to the oil fields, but the oil market remains very tight as evidenced by the recent move into backwardation. |
| Over the whole period the market remained in backwardation, another indicator of the tightness in copper availability. |
