LME Inventory:

  • Copper  UP      2725
  • Zinc    DOWN    -3050
  • Lead    DOWN    -1300
  • Nickel  DOWN    -72
  • Aluminum        UP      5025

Cancelled warrant ratio    

  • Copper  DOWN     (0.08)
  • Zinc    DOWN     (0.25)
  • Lead    DOWN     (0.27)
  • Nickel  DOWN     (0.14)
Metal inventories witnessed slight drawdown except Copper and Aluminum while the cancelled warrants have declined indicating lower downstream demand. This may continue to have slight negative impact on base metals prices. However, on expectation of better non-farm metals may continue to hold higher view.

Free Recommendation: Buy Lead MCX @ Cmp: 113.35,T1:113.85,T2: 114.35,SL: 112.3 – www.Commodity20.com,07.09.12,1:30 PM

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