Waning stockpiles drive widespread global commodity crunch

Financial Times/Neil Hume and Emiko Terazano/2-13-2022

“Stockpiles of some of the global economy’s most important commodities are at historically low levels, as booming demand and supply shortages threaten to fuel inflationary pressures around the world.”

USAGOLD note: Scattered remnants of Team Transitory will be hard-pressed to advance the narrative following this report posted yesterday at Financial Times. “The problem,” says FT. “is particularly acute in metals.” Many contracts are trading on the LME in backwardation.