Sorry can you translate these words into English? I am having a hard time relating these words to Commodity concepts. An explanation would be good too.
pzqa35 · 2023年09月26日
嗨，爱思考的PZer你好：
This concept refers to the 'component analysis' within the fundamental analysis of commodities.
Simply analyzing supply and demand is not detailed enough, so we need to break them down into stocks (inventory) and flows for a more in-depth view.
For instance, if a customer of Chemical Enterprise A, increases its purchase by 1,000 units, it doesn't necessarily mean that A will directly increase its procurement of raw materials from its upstream Mining Company B. Assuming that A has a stock of 800 units, it would only need to purchase an additional 200 units of raw material. Thus, the impact on the raw material price isn't as significant as the 1,000 units would suggest. In this scenario, the 800 units represent the 'stock' or inventory, and the process of consuming this inventory is referred to as 'flow'.
To better understand this concept, you can revisit the introductory class on commodities overview. You can play it at 1.5x speed and go to the 3 minutes 50 seconds mark, the instructor provides a detailed explanation to enhance comprehension.
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