Appreciate the interest. Few reasons -
1) as I did more work on the space, I lost conviction in the value of looking at LME inventories without a clear picture into off-LME stocks (per puppyeh's first... login to read the rest
I second the question! why not wait for nickel to at least reach a price necessary to incentivize the new mines needed to meet demand ... say, somewhere in the low-$20k range?
LME inventory is plummeting, Indonesian ore export ban just surprise-kicked in, and EV sales seem to be on trend. Trade has clearly worked, but why not let it run longer?
"given the predominance of scrap as a source of nickel within the SS production process" do you mean scrap stainless steel or scrap nickel? either way, where does one look to find the current cost... login to read the rest
If you take a look at the linked Glencore presentation, and go to slide 5, you'll see their take on on/off-LME inventory trends
What gives me comfort is that they claim that total on- and off-LME inventories have both... login to read the rest
thanks for an excellent write-up. i had one question on the relevance of using LME inventories as a benchmark for global stocks. We have seen this phenomenon in other commods markets, where LME inventories look... login to read the rest
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