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Nickel stockpiles at record high

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

Aluminium inventory decreased by 8925 tonnes today, while Nickel inventory increased by 828 tonnes. Copper inventory and Lead inventory rose by 1350 tonnes and 950 tonnes respectively, while Zinc inventory inventory fell by 3575 tonnes.

Nickel fell from a six-week high on the LME, after a strike in Columbia was called-off. Prices were also hurt by record high stockpiles at the LME. The metal fell 0.7% after closing yesterday at the highest since Oct. 9. Meanwhile, Copper in London gained 0.2%.

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