LME Inventory Data:

  • Copper Up 1525
  • Zinc Down -1650
  • Lead Up 6500
  • Nickel Down -366
  • Aluminium Up 23750

IMPACT:

Metal inventories witnessed stockpiling except Zinc and Nickel while the cancelled warrants have also declined for the all metals indicating weak spot demand. Overall, this data may have negative impact on base metals forwards at LME. Slight pullback in prices might be expected in the US session while mostly base metals are likely to remain baised towards downside.

 

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