I've been having a close look at the LME copper stockpile.My...

I've been having a close look at the LME copper stockpile.
My starting date is 1st March 2010. I am concentrating on what I consider to be the 3 main regions of importance (USA, Asia and Europe) and the 7 largest individual stockpiles which comprise the majority of what is termed the LME stockpile. The 7 largest individual stockpiles in order of tons held as at end of day 1st March with the net change for that day in brackets are -
New Orleans - 213,300 (+1250)
Busan (Sth Korea) - 83,950 (no change)
St Louis - 81,300 (+450)
Rotterdam (Netherlands) - 45,275 (+50)
Chicago - 28,525 (no change)
Singapore - 24,775 (no change)
Bilbao (Spain) - 15,650 (-50)

At end of day 1st March the LME copper stockpile stood at 551,250 tons after a net change of +1525 tons for the day.
The 7 largest individual stockpiles as noted above are spread across USA (3), Asia (2) and Europe (2).
To make the task simpler I am arbitrarily applying a minimum 250 ton limit to define a significant change.
You can drill down by Copper/Year/Month/Day/Individual Stockpile from this site -
http://www.basemetals.com/stocks.aspx
to see the same data I am using and to view the stockpile changes that I am excluding which are <250 tons.

Mar 2 - 552,325 (+1075) : New Orleans +1100, St Louis +325
Mar 3 - 550,575 (-1750) : Busan -850, Rotterdam -400
Mar 4 - 544,225 (-6350) : Antwerp (Belgium) -1575, Busan -550, Johor (Malaysia) -450, Rotterdam -3700
Mar 5 - 543,150 (-1075) : Busan -750
Mar 8 - 541,575 (-1575) : Bilbao -350, Busan -300
Mar 9 - 538,875 (-2700) : Busan -250, Chicago +1000, Leghorn (Livorno-Italy) -300, New Orleans -350, Rotterdam -1550, Singapore -1150
Mar 10 - 538,175 (-700) : Busan -625, New Orleans +1075, Rotterdam -675, Singapore -250
Mar 11 - 535,650 (-2525) : New Orleans -425, Rotterdam -575, Singapore -1275
Mar 12 - 532,575 (-3075) : Busan -725, Johor -650, Liverpool -250, Rotterdam -1000
Mar 15 - 531,200 (-1375) : Busan -500, Chicago +850, New Orleans -475, Rotterdam -925
Mar 16 - 528,050 (-3150) : Busan -475, Johor -500, New Orleans -350, Rotterdam -1700
Mar 17 - 525,575 (-2475) : Busan -1000, New Orleans -300, Rotterdam -600
Mar 18 - 524,175 (-1400) : New Orleans -325, Rotterdam -625
Mar 19 - 522,975 (-1200) : New Orleans -375, Rotterdam - 675
Mar 22 - 522,075 (-900) : Rotterdam -600, Singapore - 250
Mar 23 - 520,675 (-1400) : Busan -275, New Orleans -400, Rotterdam -650
Mar 24 - 520,400 (-275) : Busan -500, New Orleans -375 - Rotterdam +650, St Louis +375
Mar 25 - 518,825 (-1625) - New Orleans -500, Rotterdam -625, Singapore -300
Mar 26 - 516,925 (-1900) - Incheon (Sth Korea) -400, New Orleans -625, Rotterdam -700, St Louis -250, Gwangyang (Sth Korea) +300
Mar 29 - 515,525 (-1400) - St Louis -550, Singapore -500
Mar 30 - 514,900 (-625) - St Louis -525, Singapore -525, Gwangyang +700
Mar 31 - 514,325 (-575) - Hamburg (Germany) -250, New Orleans -450, Singapore -700, Incheon +300, St Louis +675

TOTAL Mar 1 551,250 - Mar 31 514,325
New Orleans - 213,300 - 208,575
Busan (Sth Korea) - 83,950 - 76,950
St Louis - 81,300 - 81,450
Rotterdam (Netherlands) - 45,275 - 30,425
Chicago - 28,525 - 30,150
Singapore - 24,775 - 19,775
Bilbao (Spain) - 15,650 - 15,300

Stocks depleted by ~37,000t for the month. Most noticeable drawdown was Rotterdam.
Main interest now is achieving milestones as we approach the Northern Summer - first need to see it go below 500,000 and then below 400,000.
I don't believe supply side shortages which can push the copper price significantly higher kick in until the stockpile goes below 300,000t.
It will also be key for the US stockpile sites to deplete significantly to gauge the merits of any US economic recovery.

This data is only available online for a month so I will collect the same data for April and post it early in May.