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1[mass noun] A situation in which the spot or cash price of a commodity is higher than the forward price.‘the development of a backwardation is associated with supply shortage’Often contrasted with contango
- ‘Ministers have announced plans to cut production before prices start to weaken, helping to create the conditions for a sustained price backwardation, pricing physical oil at a premium to future supplies.’
- ‘In the case of agricultural commodities backwardation provides a most powerful incentive for traders to sell the cash commodity and buy the futures.’
- ‘This caused a significant disturbance in the market and exacerbated a backwardation in the price of tin.’
- ‘Contrary to those teachings, the normal condition of the futures markets is one of contango, not backwardation.’
- 1.1A situation in which the offer price for stock is lower than the bid.
- ‘The backwardation widened to $28.50 per tonne in aftermarket trading late Wednesday.’
- ‘Gold remains in backwardation right out to the six month term but at low rates.’
- ‘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.’
- ‘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.’
- 1.2historical A percentage paid by a person selling stock for the right of delaying its delivery.
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