Post by
Albatross on Jun 11, 2022 12:14am
LME Warehouse stock
Reaching new yearly lows of 70.8k tons. The price must be trending down just because of general market jitters.
Comment by
rkhosla on Jun 11, 2022 6:31pm
HOWEVER cancelled warrants are only 9k. WHEREAS at the time of the March squeeze they where much more than half to total. So its the live warrants that are relavent and we are well well above the low for those - they sit now at 61k and I believe the Match low was 15k.
Comment by
Maxmoe on Jun 13, 2022 12:40am
I'd say, considering the proportion of global nickel refined,smelted,stored, and consumed in China and neighbors the LME inventories are almost irrelevant. Especially considering how often and easily the LME is manipulated.