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Msg  14821 of 15047  at  10/18/2021 7:10:58 PM  by

minerdude


 In response to msg 14814 by  minerdude
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Re: Copper Breakout vs Gold

 
“If more metal doesn’t make it into the exchange, then it really is in a difficult position,” Michael Widmer, head of metals research at Bank of America, said by phone. “Right now the LME is running a physical contract that effectively is not really backed by physical metal.” ... 
 
The last time that type of dynamic developed was during a historic squeeze in 2006, when a buying spree early on in China’s industrial boom drained LME on-warrant inventories to a near-record low. LME inventories are now at even lower levels than was the case then, while Chinese inventories also dropped Friday. Shanghai Futures Exchange stockpiles declining to 41,668 tons, the lowest level since 2009.


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Replies
Msg # Subject Author Recs Date Posted
14822 Re: Copper Breakout vs Gold countrygent 0 10/18/2021 9:21:57 PM
14826 Re: Copper Breakout vs Gold minerdude 0 10/19/2021 4:50:53 PM


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