I think the most interesting part of the LME stockpile story is the fact that 40,525 of the 66,875 tonnes or 60.6% are located in the New Orleans warehouses. This figure increases to 67.4% when you take into account cancelled warrants. What will happen when all of the other warehouses are empty and there is just 40,000 tonnes of zinc left sitting in the middle of the USA? Will they start shipping the zinc to SE Asia & Dubia?
When you think about it most of the consumption is coming from those to areas, this means that effectively for supply/demand purposes there is only 26,350 of zinc available... I can't wait to see what happens when the Singapore warehouses are empty???
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