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 and Zinc. Meanwhile, the data showed a rise in the inventory levels of Nickel and copper.

Aluminium inventory fell again by 7400 tonnes today, while the Zinc inventory declined by 1075 tonnes. Nickel inventory increased by 3138 tonnes, while Copper inventory rose by 2675 tonnes.

Nickel fell for the first time in five days after data showed a weakness in the Chinese manufacturing activity. Nickel for delivery in three months on the London Metal Exchange slid 0.4% while Copper was little changed.