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Shrinking commodity inventories

In China, Commodities, Emerging markets on 07/03/2019 at 5:14 am

Is the CEO of Glencore, the miner and hard commodities trader, talking his book or does he really have a point that commodities are a cheong.

“If you look . . . around the world, we’re at record low levels for a lot of commodities,” he said in late February. “In copper we have 13 days’ supply sitting in inventories. You have zinc down at record levels of eight days’ supply and nickel at 34 days.”

Since then the prices of these have rallied but, then so has most markets.

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