Unless there’s more to dump into LME warehouses from private...

Unless there’s more to dump into LME warehouses from private stockpiles then there won’t be much left soon.

Thing is that the price keeps pushing up and if this is the case  even any new stuff coming into the LME may find itself being gobbled up. 

If no dumps into the LME then stocks will now be under 50Kt and THAT is considerably shorter than previous when the price hit its mega highs. 


LIVE FUTURES REPORT 28/02: LME lead price continues uptrend amid fresh cancelation; Cu, Ni well supportedLead’s three-month price on the London Metal Exchange climbed over 1% during morning trading on Thursday February 28, with a continued draw on European supply prompting upward price action, while trade optimism supports buying despite disappointing Chinese PMI data.This week, more than 31,000 tonnes of lead has been booked for removal out of mostly LME-listed warehouses in Europe, while the metal’s three-month price has climbed by more than 4.5% and is trading comfortably above $2,100 per tonne.  The continued theme of low stocks persists across the complex amid the fresh cancelations, with LME copper, zinc, lead and tin stocks at their lowest level in more than 10 years. 


So with many of these metals tightening it looks like u may well be right with the global growth line OS.

Now we await supply response. There was talk of some
mines getting their act together but we havnt seen it yet. 

I wonder when AMs next trip is to Japan ?

They may come to him if the lead price keeps pushing up this hard for fear of someone coming over the top with a better offer.

Gr.