The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (13502)	5/8/2004 5:21:27 PM
From: Condor	Read Replies (2) of 110194

From that INCO synopsis pg 4 Inventory in the past 25 years was never more than 4 1/2 weeks demand? On that graph it appears that 1 week supply equates to 50,000 tonnes and yet LME states 14,000 tonnes in inventory. That would suggest two days supply. ?? If the graph was blown up and detailed for 04 that would have helped. Regardless..that Inco presentation is excellent and inventory sure seems to be low. I see a lot of capacity coming onstream in '06 though. I know that locally, the drive is on for production. Given the evidence and the weakening N and FL share prices I can only conclude they are getting very attractive, much as energy stocks appear advisable. However refer to page 14. The window of opportunity seems to be seems to be "now" and awaiting a bottom may be risky. I wonder how pricey far out options are now? It will be interesting to see how this unfolds. C

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