Theory of storage, inventory and volatility in the LME base metals

The theory of storage, as related to commodities, makes two predictions involving the quantity of the commodity held in inventory. When inventory is low (i.e. a situation of scarcity), spot prices will exceed futures prices, and spot price volatility will exceed futures price volatility. Conversely,...

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Veröffentlicht in:	Resources policy 2013-03, Vol.38 (1), p.18-28
Hauptverfasser:	Geman, Hélyette, Smith, William O.
Format:	Artikel
Sprache:	eng
Schlagworte:	Aluminium Base metal Base metals Commodities Convenience yield Exchange Futures curve Inventories Inventory Lead (metal) London metal exchange Metals Prices Spots Stockpiling Storage Volatility Working curve Zinc
Online-Zugang:	Volltext
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