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Nickel inventory rises

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

Aluminium inventory declined by 9150 tonnes today, while Nickel inventory increased by 1104 tonnes. Copper inventory fell by 625 tonnes, while Zinc Inventory and Lead Inventory declined by 3300 tonnes and 1950 tonnes respectively.

Nickel prices are heading for a weekly loss on LME ahead of the report from China which may show export growth slowed down. Nickel slid as much as 0.7% while aluminum fell 0.6%.

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