RE:RE:On-warrant inventoriesBTW: I don't know if 'sell' is the right word. After all the wording from LME is 'those not earmarked for delivery and therefore available to investors' which implies that those cancelled warrants might have already been sold but still sitting in LME warehouses.
frontier2014 wrote: see: https://www.lme.com/metals/non-ferrous/zinc/
LME Official Opening stocks in tonnes
| Stocks | Amount |
| Opening Stock | 328500 |
| Live Warrants | 179325 |
| Cancelled Warrants | 149175 |
There are 3 numbers that are quoted:
Opening stocks - this matches the number reported in USZInc but it is one day behind
Opening stocks = Live + Cancelled warrants
Live = On-warrant LME inventories - those not earmarked for delivery and therefore available to investors
Cancelled = zinc that is still in LME but not available for trading (there could be multiple reasons for this)
If you have some zinc on LME you might decide that you do not want to sell and you will remove it from the zinc being offered. This is still reported as part of the total zinc in LME. Sometimes th owner of these cancelled warrants might decide to sell. This will impact the numbers for the live/cancelled but it does not impact the overall amount of xinc in LME.
kramaswamy wrote: Hi all,
Seen a few articles suggesting the following:
Zinc prices were also knocked by a jump in available inventories, showing that supplies were adequate despite the closure of major mines last year. On-warrant LME inventories - those not earmarked for delivery and therefore available to investors - climbed 11 percent on Friday to 179,325 tonnes.
What exactly does that mean, and where could I see that reflected? LME inventories on uszinc / westmetall are both displaying inventory levels consistently down over the past few weeks. Does the on-warrant inventory represent numbers not shown on uszinc / westmetall?