LME Inventory:

  • Copper  DOWN    -250
  • Zinc    DOWN    -2700
  • Lead    DOWN    -950
  • Nickel  UP      1236
  • Aluminum        UP      46575

 

Cancelled warrant ratio  

  • Copper  DOWN     (0.04)
  • Zinc    DOWN     (0.23)
  • Lead    DOWN     (0.25)
  • Nickel  UP       0.35

INVENTORY IMPACT:

Metal inventories witnessed drawdown except Aluminum and Nickel while the cancelled warrants have also declined slightly. However, the warrants for Nickel has increased and may support gains while other base metals are also likely to remain in positive on anticipation of easing at FOMC

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