LME Inventory:

  • Copper  UP      1625
  • Zinc    DOWN    -2150
  • Lead    DOWN    -2600
  • Nickel  DOWN    -96
  • Aluminum        UP      5325

Cancelled warrant ratio

  • Copper  DOWN     (0.32)
  • Zinc    UP       1.48
  • Lead    DOWN     (0.39)
  • Nickel  DOWN     (0.22)

 

IMPACT:

Metal Inventories witnessed drawdown except Copper and Aluminum while the cancelled warrants weaken slightly and would have negative impact on prices. Zinc warrants have increased after remaining weak for the entire week which would limit downside. Overall, the inventory data would have negative impact on metal prices.

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