Macquarie: The Rise of Lead Stocks Could Be Misleading

Reported lead stocks have risen recently, primarily as a result of metal previously withdrawn from LME warehouses in Asia being delivered back on to warrant elsewhere in the world.

As quoted in article:

Over 130,000 mt of LME lead stocks are currently canceled, according to the latest LME data, an all-time record, leaving 194,500 mt on warrant, but even this does not paint the full picture.

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