I read an interesting report on the 29th Jan about the soaring stockpiles of Copper, Nickel Zinc and Aluminum.
Very good reading
"Even with these possible disconnect explanations, based on what we are seeing with LME stockpile levels it is painfully obvious that base metals prices have disconnected from fundamentals. While a new balance may be developing, I still believe there is a higher probability for a correction than not. Current copper, zinc, nickel, lead, and aluminum prices are still 367%, 211%, 154%, 406%, and 75% above their respective 2003 lows. Even a decent-sized correction from these levels will not challenge the integrity of their secular bulls".
Full Article Here
http://www.zealllc.com/2010/lmesoar.htm
VAN Price at posting:
4.6¢ Sentiment: LT Buy Disclosure: Not Held