…..lead (Pb), six month price chart.

I’m not buying this upmove in base metals and think they have to drop again. It’s not something I want to say but do feel compelled to say it. The recent moves are not demand-based but a combo of monetary playfulness and slightly lower LME inventory numbers (totally understandable when one considers the supply crimp from mine closures that really took hold around December). The bottom line is that until I see true end-user demand picking up and not just technical adjustments inside the market, I’m a whussy coward on BMs on general. DYODD and you’re very welcome to disagree. This site is not one of those neverwrong BS merchants.