Does anyone know what the auctioning process is at the LME. It seems strange that the supply / demand relationship seems all out of whack. One would have assumed that as the stock pile grew the PON would drop. I wonder if the 'old' auction manipulation is occurring again and they are driving the PON down before the stock pile starts to plummet. Theoretically MRE would be producing at a loss now (if they were producing). With MRE not producing and the refinery in Kal down for maintenance and other world problems with NI the stock pile has been coming down. So i can only conclude that the price is being 'driven' (manipulated) down whilst there is fear of a world 'recession' (fair enough) and to ensure a strong bounce when the stock pile dives. If china is still buying expensive iron, surely they would be producing the same proportion of stainless (including pig Ni). I don’t thing China exported all it stainless?. Just my thoughts.
Still would like to know what the auction process is? (ie can the LME hold back stock, do they only release a certain amount each day to be bided for, can you buy (and under bid) for stock and not take delivery, can you short sell physical stock?...anyone know…because the SP is only being driven by fear and the PON ( the SP went up by the PON now its falling [crashing] by the PON…control the LME and you control all world Ni stock SP’s….could be a big game going on worth mega zillions….ah Dr Death)
MCR Price at posting:
0.0¢ Sentiment: Sell Disclosure: Held
