I've been trying to wrap my head around why the surge and decline in the PON. Thought this would be easy, just find out the consumption volumes from the LME, and this should indicate whether its supply or consumption issue that is driving the price. However, monthly volumes have been relatively consistent over the past 12 months (250,000 to 320,00 tons) with no real correlation with the PON. Where am I going wrong?
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