LME Pb stocks below 80kt!, page-9

Good to see you again GR. Hope you're having a win here and there!!

I do notice the LME levels have dropped noticeably, to levels around a third of what they were 5 yrs ago. There does not seem to be the correlation one might have thought though between warehouse levels and the lead price. They look to run quite independently of each other.

Not just lead i notice...zinc, nickel and aluminium all look to be following the same LME trend of lower stock levels. And there is a school of thought that the whole LME model is fatally flawed, and with the rise of Asia, regulation perhaps not seen as important as it has historically been... and particularly when that regulation comes at a premium.

Here's a couple of articles around the issues LME has faced, how they have dealt with it, and the fallouts.

https://agmetalminer.com/2018/07/18/is-the-lme-warehouse-system-in-crisis/

https://www.reuters.com/article/us-...-mission-accomplished-andy-home-idUSKCN12028K

So, it does seem the LME charts hold far less weight as a point of relevancy than they did 5 years ago. There may be other sets of data available with more currency around showing where true warehousing levels are at?

In any case, what a terrific outcome here!! Non-dilution funding, and now in lockstep with a business that has exhibited 80+ years of continuous Japanese acumen.

Watashi wa totemo shiawase desu !