The current review reports on price movements on the international markets during the month of September 2007.  Chart I shows the evolution of the ICCO daily prices in September; Chart II illustrates price movements on the London and New York markets as well as the ICCO daily prices from July to September 2007;

Chart III shows end-of-month stocks in licensed warehouses in the US and the arbitrage spread between the LIFFE and the ICE futures markets.

NOTE:  in January 2007, the Intercontinental Exchange (ICE) acquired the New York Board of Trade (NYBOT), which is now known as “ICE Futures U.S.”.