RE:RE:RE:WHY????Contrarian333 wrote: With respect, this is also old news. CRU and/or Wood Mac estimate that at least 50% of inventory decline has actually been used up, with some of the balance going to unlicenced warehouses in financial transactions. My understanding was the incentive to do this had diminished at year end 2018.
Wish I had shared the link at the time but I recently saw a video with a metals analyist who believed aproximately 70% of the drawdown could be attributed to current consumption.
Anyway you slice it demand is exceeding supplly with EV demand only just starting to ramp up in an exponentail curve.