LME Inventory:

  • Copper   UP      1225
  • Zinc    DOWN    -2425
  • Lead    DOWN    -550
  • Nickel  UP      678
  • Aluminum        UP      15975

Cancelled warrant ratio :      

  • Copper  DOWN     (0.82)
  • Zinc    DOWN     (0.24)
  • Lead    DOWN     (0.15)
  • Nickel  DOWN     (0.07)

INVENTORY IMPACT:

As expected that weak PMI numbers may continue to weaken consumption demand, though metal inventories witssed slight drawdown still the cancelled warrants declined and may have continue to weigh on gains for the rest of the session.

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