|See a trend anywhere?|
- The LME stocks are the lowest since 2009.
- The combined stocks have been falling for more than three straight years.
- In 2014 the Shanghai stocks rose in the first months of the year and then started to decline for the rest of the year.
- In 2014 we had a sharp decline in the stocks in May for over 100 000 tonnes and June for over 50 000 tonnes. That sent the zinc price up to ~1,10 USD/lb
- A similar spike in drawdowns this year would probably send the price much higher since everybody knows that the supply is gonna take a hit during the fall.