Unfortunately consumption and forecasts are at the mercy of macro economics which haven't been at all favorable to the commodity markets during 2014.
The concentrate market is expected to fall into deficit by 2016 which will have a significant impact on the refined metal market (LME) however come Q3 2015 end users rather than traders will probably begin hoarding causing a possible panic IMO.
I suspect the current warranting activities are most likely traders which could end up back as live warrants as we have witnessed on several occasions with some referring to as "hidden stock"
Warehouse stocks nov 2015, page-10
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| Open | High | Low | Value | Volume |
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