I guess it depends on what you mean by "amount of trade" -- you seem to be using it in terms of simple tonnage (i.e. not much mithril went to the Elves in trade) but I mean it in terms of value (i.e. not a lot made its way into Beleriand but it was worth a LOT, so while the amount of material going back and forth was not impressive it accounted for a lot in terms of trade -- think about diamonds today. A single suitcase can hold a mine's entire output for a year.
So here's a scenario: the Dwarves spend twenty years working like, well, Dwarves and make 10 000 mithril coats. Not enough for the whole Elven army but enough for the real champions. That many coats could easily fit onto the back of a single mule train of, say, 100 mules. They take that train to Beleriand and get paid as only people who are trading with the Elves can get paid. So with one trip only, they make good on a 20 year investment. Not a lot of activity in terms of people going back and forth, but in that single transaction is a LOT of value.
Perhaps by way of downpayment the Dwarves have been accepting caravans of goods from the Elves for the 20 years it took to produce, and can now expect 50 years more of such shipments. These are Elves, remember, what is 70 years to them??
OK, so now I'm thinking that this would be an intersting RPG: Mithril Road. A band of Dwarves leads their precious cargo through the dangers of Beleriand to Fingolfin's stronghold!
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Scribbling scrabbling.
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