LME Inventory:

  • Copper  DOWN    -200
  • Zinc    DOWN    -2625
  • Lead    DOWN    -175
  • Nickel  UP      972
  • Aluminum        DOWN    -8300

Cancelled warrant ratio   : 

  • Copper  DOWN     (0.60)
  • Zinc    DOWN     (0.22)
  • Lead    DOWN     (0.05)
  • Nickel  UP       0.03

INVENTORY IMPACT:

Metal inventories continued to witness slight drawdown, however the cancelled warrants have also declined on the back of lower PMI figures and may continue to support downside in today’s session

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