LME warehouse levels for various industrial metals
Doctor Copper gets the attention, but the red metal is just one of a whole bunch of cyclical industrial metals subject to inflationary economic growth. Obviously, the lower the warehouse level the more fundamentally positive for the price from a supply/demand standpoint, and theoretically, the more positive for the global economy due to its demand for these materials.
Of course, it’s all a manifestation of the inflation created by central banks, so there’s your caveat from a sustainability standpoint.
From Kitco:
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