Reassuring djr - good to see the trend continuing and looks like that slope of inventories declines will shortly become steeper.
Interesting how he draws on available inventories: "LME data on Friday showed available zinc stocks fell to just over 170,000 tonnes, the lowest since October 2008 while inventories at warehouses monitored by the Shanghai Futures Exchange fell 9.5% from last Friday to 91,700 tonnes." Official LME inventories are currently around 340,000 tonnes and the Chinese 200,000 tonnes, so he's able to differentiate between those parked there as collateral or whatever, vs those available - wish there was more coverage on this.
The graphs and the declining TC's are further evidence that barring any black swan event - just dealt with likelihood Trump may not be able to deliver on all his infrastructure programs - the zinc price should climb above $1.30 in the next few months.
Hopefully it will be great timing with IBG financing and mine development news![]()
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