Good post Burnside. Is it your comment or did you find it somewhere? Just wondering about the 1M to 1.5M inventories as don't think I've seen them estimated that high, even if including the Shanghai, Tianjin and Guangdong inventories which are now 343,000 tonnes, down from 453,200 tonnes in early March http://www.metal.com/site/search?cond=zinc inventories&yt1=
When you take the decline in LME zinc inventories over the same period of 80,000 tonnes http://www.westmetall.com/en/markdaten.php?action=show_table&field=LME_Zn_cash
then 190,000 tonnes have been withdrawn from the refined zinc exchanges in less than three months, 11 weeks.
Unless some of these inventories have been moved to off exchange warehouses, then at the rate zinc inventories are now falling, things may start to get very interesting before the end of the year.
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