Stocks getting low in SHFE warehouses... Lead prices are bumbling along in low ground, albeit the two recent sell-offs have held above the previous lows, so some support is evident. But, conversely, each rebound high has been lower than the previous one. While prices are stuck sideways overall, lead’s fundamentals appear to be tightening as both LME and SHFE stocks continue to work lower. LME stocks fell 900 tonnes last week and stand at 115,700 tonnes and with 50,400 tonnes of warrants cancelled. That means there are 65,300 tonnes of available stocks. Not much in a 12 million tonne market....
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