Combined stockpiles tracked by the LME, CME Group, and the Shanghai Futures Exchange would cover global supply for less than five days, according to Bloomberg calculations. That’s the lowest level of cover of the six main metals traded on the LME, and represents a major shift for an industry that’s historically been plagued by oversupply.
https://www.mining.com/web/aluminum-squeeze-deepens-as-spreads-tighten-and-inventories-drop/
h/t ReoX