Copper inventory rises, Nickel fell from six-week high

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

Aluminium inventory decreased by 5875 tonnes today, while Nickel inventory increased by 2466 tonnes. Copper inventory rose by 1025 tonnes, while Zinc inventory and Lead inventory declined by 2775 tonnes and 50 tonnes respectively.

Nickel fell from six-week high on the LME as the metals erased the gains witnessed on Friday in response to China’s interest rate cut. Nickel fell as much as 1.2%, while Copper fell 0.3%.