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Forward guidance and commodity premiums

Posted on 12 September 2013

Inventories of many base metals have soared to historically high levels in the aftermath of the Great Recession. In spite of a depressed demand backdrop (slow recovery and China doubts) the impact on spot prices has been limited.
If history were a guide, the level of inventories would have driven spot prices below the cost of production. This would have led to a downward adjustment of production, eventually bringing the market into equilibrium………………………………………..Full Article: Source


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VRS - who has written 40596 posts on Opalesque Commodities Briefing.


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