RE:three month from Hudbay siteYes ,it is extremely incongruent which means one of 2 things ...either large trading houses(hedge funds,investment banks) have pulled off the raid of a lifetime or there is much worse to come in the global economy and global banks have the heads up and are selling before the commodities take another huge dive . Its hard for me to believe it is the second scenario because stockpiles of most commodities have dropped over the last 4 years .
If we are to still believe that supply/demand rules apply then how else can we gauge the balance of supply except by looking at visible(reported) stockpiles . How can anyone tell where the supply/demand is by listening to mass media and government GDP figures which are politically driven?