LME Inventory Data:

  • Copper  DOWN    -1125
  • Zinc    DOWN    -3125
  • Lead    DOWN    -275
  • Nickel  DOWN    -348
  • Aluminum        UP      1375

Cancelled warrant ratio  

  • Copper  UP       0.29
  • Zinc    DOWN     (0.27)
  • Lead    UP       0.55
  • Nickel  DOWN     (0.24)

INVENTORY IMPACT:

Metal inventories witnessed slight drawdown except Aluminum while the cancelled warrants have also remained low except Copper and Lead. Overall it may have a negative impact on prices on the back of slower recovery of downstream demand.

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