LME Inventory:

  • Copper  DOWN    -175
  • Zinc    DOWN    -6200
  • Lead    DOWN    -1625
  • Nickel  UP      2928
  • Aluminum        DOWN    -3725

Cancelled warrant ratio        

  • Copper  DOWN     (1.19)
  • Zinc    DOWN     (0.56)
  • Lead    DOWN     (0.44)
  • Nickel  UP       0.30

IMPACT:

Metal inventory witnessed drawdown while the cancelled warrants remained weak due to weak downstream demand as expected as hopes of easing continued to fade. Overall the inventory data may have a negative impact except Nickel.

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