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 declined by 6700 tonnes today, while Nickel inventory increased by 2112 tonnes. Copper inventory rose by 2125 tonnes, while Zinc Inventory and Lead Inventory declined by 2075 tonnes and 1975 tonnes respectively.

Zinc rose 0.6% on LME after economic data pointed to improved demand prospects in China and the US. Meanwhile, Nickel was little changed, while aluminum, lead and tin declined.