LME Inventory:

  • Copper  DOWN    -1025
  • Zinc    DOWN    -2200
  • Lead    DOWN    -1975
  • Nickel  UP      1848
  • Aluminum        DOWN    -5950

Cancelled warrant ratio    

  • Copper  DOWN     (0.84)
  • Zinc    DOWN     (0.30)
  • Lead    DOWN     (0.56)
  • Nickel  DOWN     (1.07)

IMPACT: Metal inventories witnessed drawdown except Nickel while cancelled warrants declined compared to past session indicating drop in downstream demand and may likely restrict upside. However overall base metals may continue to remain on the gaining side on the back of strong equities and positive economic releases

 

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