Insight
LME Warehousing Rules - A New Sheriff In Town
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The LME warehousing system has been in the news in recent days with the US Federal Reserve, the US Commodities and Futures Trading Commission, The Senate Banking Committee and most recently the Department of Justice all turning their gaze on the system. The Senate Committee and the US Federal Reserve are looking at whether investment banks should be allowed to have interests in businesses involved in commodities and they each follow the LME in launching a consultation period over the issue...
Table of contents
- Executive summary
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Putting metal away for a rainy day
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A return to fundamentals?
- Aluminium situation
- Copper
- Zinc
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A return to fundamentals?
Tables and charts
This report includes the following images and tables:
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Average Reported Stocks, 2003-2007 versus 2008-2013LME Warehousing Rules - A New Sheriff In Town: Image 2Average Total Implied Metal Stocks (Days of Consumption)
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Premia escalated as a result of physical tightness90% of LME stock concentrated in five locationsLME copper cash price and 3-month spreadSpot premiums at elevated but not record levels
What's included
This report contains:
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