Back in the early 2000's, the LME stockpiles were at +/- 340Kt. Now they are less than half. They are still very low and from appearances, the lows are getting lower suggesting an upcoming shortage. One would anticipate that the negotiations must be close to being finalised with banks, partners and smelters. Sumitomo would be the logical partner as they need feed for their smelter ....... and can be trusted.
Chart, page-10
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