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London Metal Exchange: Base Metal Inventory Update

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Jan. 18 2016, Updated 8:07 a.m. ET

Base metal inventory update

On January 14, 2016, of all the base metals’ inventory levels fell in the LME (London Metal Exchange) expect tin. Copper stock levels in the LME experienced the biggest fall of all the base metal inventories on January 14. They fell by 0.9%.

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Copper stock levels continue to fall

On January 14, copper stock levels fell by 0.9% and reached 233,400 tons. Recently, copper’s highest stock level was recorded as 371,250 tons on August 28, 2015. Since then, it fell by 37.13%. Aluminum’s inventory levels in the LME have been in a downtrend since the beginning of 2015. On January 14, aluminum stock levels fell by 0.2% to 2,846,650 tons. In the week ending on January 9, the aluminum inventory levels in the LME fell by 0.84% to 2,871,100 tons. Last year, aluminum stock levels in the LME fell by 31.7%.

Nickel and zinc’s inventory levels fell

Nickel stock levels in the LME fell by 0.6% in the week ending on January 9 and reached 438,576 tons. On January 14, nickel inventory levels fell by 0.63% and reached 433,968 tons. Nickel stock levels in the LME reached a low of 393,228 on December 9. They rose by 10.4% from that low. In the week ending on January 9, zinc stock levels in the LME fell by 2% and reached 455,200 tons. On January 14, zinc stock levels fell by 0.2% and reached 447,100 tons. Zinc’s peak inventory level was at 617,325 tons on September 15, 2015. Since then, it fell by 27.6%.

Lead’s stock levels fell 

Tin inventory levels rose by 2.5% and reached 6,295 tons in the week ending on January 9. On January 14, tin stock levels rose by 0.9% and reached 6,145 tons. Tin inventory levels in the LME fell by 49% in 2015. Lead stock levels fell by 0.15% and reached 189,900 tons on January 14. Base metal miners Freeport-McMoRan (FCX), Glencore (GLNCY), Alcoa (AA), and BHP Billiton (BHP) rose by 12.2%, 10.2%, 1.5%, and 6.4%, respectively, on January 14. The SPDR S&P Metals & Mining ETF (XME) rose by 1%.

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