LME Inventory Update

FXStreet (Mumbai) - The daily inventory data released by the London Metal Exchange (LME) today showed a decline in the inventory levels of Aluminium, Lead, Zinc, and Copper. Meanwhile, Nickel inventory rose.

Aluminium inventory declined by 3800 tonnes today, while Nickel inventory increased by 360 tonnes. Copper inventory declined by 850 tonnes, while Zinc Inventory and Lead Inventory declined by 200 tonnes and 25 tonnes respectively.

On the LME, Copper and aluminum both rose 0.2%, despite the weak China Industrial Production data. Nickel reversed earlier losses to rise 0.6% to USD 15,700/ton. Lead fell while zinc rose.