RE:90 cent Zinc and inventories keep coming down - EOM
Kind of goofy how straight the line is. How I see inventories: So you are required to supply your mill or plant with zinc. You see the inventories plummet, so you start hedging to take a little more with every order. This compounds itself until one day the price starts to rise. You hold back a little. Inventories go up a little but not like previous levels. Time passes. Inventories start to go down again. You get a little more aggressive with your buying. The other guy panics. Prices rise; inventories fall. It spikes down. Insanity. This is what I hope for.