LME Inventory:

  • Copper    DOWN    -50
  • Zinc    DOWN    -5175
  • Lead    DOWN    -2500
  • Nickel  DOWN    -6
  • Aluminum        DOWN    -7100

Cancelled warrant ratio        

  • Copper  UP       0.99
  • Zinc    DOWN     (0.47)
  • Lead    DOWN     (0.52)
  • Nickel  UP       0.09

IMPACT:

Metal inventories witnessed drawdown and even the cancelled warrants for Copper and Nickel have improved and may support gains. Other metals are likely to remain mostly weak till the European session while prices might witness recovery in late evening US session

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