LME Copper Storage Levels:
.Week........LME Storage.......Weekly Change
Ending...............(mt)......................(mt)....
.5/21.............141,450................(-4175)
.5/28.............133,775................(-7675)
.6/04.............128,200................(-5575)
.6/11.............120,950................(-7250)
.6/18.............114,275................(-6675)
6/22 ............ 110,900
LME Commentary,
The five week average draw from storage is 6270 metric ton. Estimation of ZERO LME storage in 17 weeks.
NYMEX Weekly Numbers:
.Week......Nymex Storage*.......Weekly Change
Ending...............(mt)........................(mt)....
.5/21.............129,640..................(-9789)
.5/28.............119,930..................(-9710)
.6/04.............115,704..................(-4226)
.6/11.............107,231..................(-8473)
.6/18..............99,824..................(-7407)
6/22..............95,543
*NYNEX is quoted in short tons. Short Tons converted to metric tons (1 short ton = 0.907 metric ton).
NYMEX Commentary,
The five week average is 7921 metric tons. Nymex storage will be ZERO in 12.1 weeks based upon the average draw.
Combined LME and NYMEX Storage Levels
.Week....Combined Storage......Weekly Change
Ending...............(mt).........................(mt)....
.5/21.............271,090..................(-13,964)
.5/28.............253,705..................(-17,385)
.6/04.............243,904...................(-9801)
.6/11.............228,181..................(-15,723)
.6/18.............214,099..................(-14,082)
6/22............. 206,443
Combined Average Weekly Draw = 14,191 metric tons. Using this average draw, both exchanges will be out of copper in 14.5 weeks. |
