Well, it is continuing. Closures of mines and smelters around...

Well, it is continuing. Closures of mines and smelters around the globe, with little exploration dollars being spent, have seen LME stocks continue to be depleted.

The big news is zinc and nickel, however, in reality it will be tin first gone. It's been around 100 drop each day but even using today's drop, there's only 120 days left of tin supply and unlike its cousins, tin does not have another major market - the Shanghai market has only 600 or so tonnes.

Copper: 239025/375 = 637 days
Tin: 5425/45 = 120 days
Lead: 187075/1050 = 178 days
Zinc: 469675/2375 = 197 days
Aluminium: 2790675/5150 = 541 days
Nickel: 444126/2550= 174 days

Its looking good for the rebound we wanted.