LME Inventory Update

FXStreet (Mumbai) - The warehouse stocks data released daily by the London Metal Exchange (LME) showed a drop in the inventory levels of Aluminium, Zinc and Lead. While Copper and Nickel stocks witnessed a built-up.

Copper stocks increased by whopping 9775 tonnes, signalling weaker red metal demand. Nickel inventories also increased by 1194 tonnes. On the other hand, aluminium inventories witnessed a drawdown of 8800 tonnes, while Zinc stocks got subtracted by 3625 tonnes. The stock levels of Lead declined by mere 425 tonnes.