Copper
HG=FHGZ26.CMXUpdated 07:46:15 UTC · refreshes every 60s
Implied Opening Price
6.71▼
−0.05−0.76%
1σ 6.65 – 6.78VIX 15.4%
Spot vs Implied Open
Cost-of-Carry Model
Full methodology →Model Inputs
| Variable | Value | Source |
|---|---|---|
| Futures Price (F) | 6.76 | HGZ26.CMX |
| Spot Price (S) | 6.76 | HG=F |
| Risk-Free Rate (r) | 4.16% | US Treasury 3-month bill |
| Storage Cost (q) | 1.50% | Estimate |
| Time to Expiry (t) | 49.5d | Nov 30, 2026 |
About this instrument
Copper tracks the front-month HG=F futures contract and compares it with the next contract when available. The carry model includes financing and an estimated storage-and-insurance cost of 1.5% per year.
A higher next-contract price is contango; a lower one is backwardation. The curve describes prices for different delivery dates, not a guaranteed future spot price. See the methodology for the carry model and its limitations.
This is not financial advice.← Back
