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Lead inventory remains unchanged

FXStreet (Mumbai) - The daily inventory data released by the London Metal Exchange (LME) today showed a decline in the inventory levels of Aluminium, Copper, and Zinc. The data also showed a rise in the inventory levels of Nickel, while the lead inventory remained unchanged.

Aluminium inventory continued its down trend, falling by 10150 tonnes today. Meanwhile, Zinc inventory and Copper inventory declined by 1650 tonnes and 100 tonnes respectively. Nickel is the only metal whose inventory rose by 630 tonnes, as the Lead inventory levels remained unchanged.

The metal prices have failed to inch higher today despite a better than expected GDP data out of China. Moreover, the growth numbers fell to 7.3% in Jul-Sept quarter from 7.5% in the previous quarter. The underlying growth concerns have capped gains in the metal prices.

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