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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 Zinc and Aluminium. Meanwhile, the data showed a rise in the inventory levels of Nickel, Copper, and Lead.

Aluminium inventory declined by 11525 tonnes today, while Nickel inventory increased by 234 tonnes.Lead inventory and Copper inventory increased 425 tonnes and 400 tonnes respectively, while Zinc inventory declined by 2225 tonnes.

Meanwhile, Copper at LME steadied today, after bouncing-off from a key support level. Moreover, prices were boosted by tighter than expected supply and hopes of another big stimulus package from Japan and Europe.

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