LME data week from October 21 to 25, another huge fall
Live Warrants started the week at 51.282 and ended at 30.558, Cancelled Warrants started the week at 35.298 and ended at 46.200.
Opening Stocks are now at 76.750 -9.822
Live warrants - 30,312 tonnes
Cancelled warrants - 40,338 tonnes
Total warrants - 70,650 tonnes
At this rate and with the imposition of an ore export ban by Indonesia would enybody bet against the LME reaching zero by the end of the year? On the 1st. October the exchange had 152,136 tonnes. The month is not even finished and that’s down by over 50%.
Mainland Futures: a comparison of the impact of Indonesia’s Nickel Mine Ban Policy in 2014 and 2019