According to this spreadsheet it is priced at .42c per tonne, which is 0.00019 per pound or so...but x 365 days and it add 6c a pound to your storage costs...not quite 10%...
I know this one trader in New Orleans just dumped 60,000t there or so. I guess these are maximum rates too..
But the number don't quite make sense to me..
0.42c per tonne x 60,000t = $25,200 per day ???
Up from $22,800 on an asset worth 109m (60,000t x $1824 per tonne). On 60,000t would that really mean your paying $9.1m in storage fees for 365 days (60000x0.42x365)
It's not insignificant...I think...but surely they don't really pay this much?
KZL Price at posting:
25.5¢ Sentiment: LT Buy Disclosure: Held
