LME Inventory:

  • Copper  UP      2675
  • Zinc    DOWN    -2225
  • Lead    DOWN    -2025
  • Nickel  DOWN    -552
  • Aluminum        DOWN    -9525

Cancelled warrant ratio

  • Copper  DOWN     (0.35)
  • Zinc    DOWN     (0.10)
  • Lead    DOWN     (0.31)
  • Nickel  DOWN     (0.28)

IMPACT: ‘

Similar to yesterday, metal inventories witnessed drawdown except copper while cancelled warrants have also declined indicating weak spot activity. Overall the inventory data is likely to have negative impact on copper prices while other metals would also remain mostly weak.

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