uploads///Inventry weekly

Base Metal Inventories Fell Last Week: How Much?


Jan. 15 2016, Updated 10:05 a.m. ET

Base metals last week

In the week ended January 9, copper and tin inventories increased. Levels for other base metals fell. LME Zinc fell the most in terms of inventory levels with a fall of 2% from the previous week’s level.

Article continues below advertisement

Copper inventory levels surged last week

The inventory levels for LME copper surged 0.2% to 236,650 tonnes in the week ended January 9 while copper prices fell. The peak inventory level for copper in 2015 was recorded at 371,250 tonnes on August 28. It has fallen 36.2% since then.

LME aluminum inventories are in a steep downtrend and have been since the beginning of 2015. They fell last week, and prices fell 1%. Aluminum inventories fell 0.8% to 2,871,100 tonnes. In 2015, they fell 31.2%.

Inventory levels of nickel and zinc fell

LME nickel inventories fell 0.6% last week and reached 438,576 tonnes. Prices fell 3%. Nickel inventories in LME reached a yearly low of 393,228 on December 9 and rose 11.5% from that low.

LME zinc inventories fell 2% and reached 455,200 tonnes. The peak zinc inventory level is 617,325 tonnes as of September 15. It’s dropped 26.3% since then.

Tin inventories increased 2.5% and reached 6,295 tonnes last week. LME tin fell 49% in 2015.

Lead inventories fell 0.24% and reached 191,650 tonnes.

The equities of base metal miners Alcoa (AA), Freeport-McMoRan (FCX), Glencore (GLNCY), Rio Tinto (RIO) fell last week. The SPDR S&P Metals & Mining ETF (XME) fell 7.4%.


More From Market Realist

  • Open sign on a sidewalk
    Macroeconomic Analysis
    Top Reopening Stocks to Play the Shifting Market Sentiment
  • Morgan Stanley sign and stock numbers
    Macroeconomic Analysis
    Morgan Stanley's Buyback Stock Picks in 2021
  • Black Wall Street sign is sign of ethical investing
    Macroeconomic Analysis
    Ethical Investing Stocks and Funds for Your 2021 Portfolio
  • New York City skyline and Goldman Sachs logo
    Macroeconomic Analysis
    Goldman Sachs: Options Trade Picks to Play Earnings Season Volatility
  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.