Why these big numbers are plausible in a squeeze - $1T of s…

Why these big numbers are plausible in a squeeze
- $1T of sustained incremental demand is enormous relative to the tradable float. At today’s price, $1T would notionally buy ~9,300 tonnes—over 2.5 years of mine supply—before price impact. In reality, price would re‑rate sharply long before that volume cleared.
- The 2020 episode showed that tens of billions in net flows can move price by double‑digit percentages; the official‑sector bid since 2022 adds a structural floor.