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London Metal Exchange: Base Metal Inventory Update

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Jan. 15 2016, Updated 3:06 p.m. ET

London Metal Exchange

On January 8, with the exception of the stock levels of tin, the inventory levels of all base metals declined on the London Metal Exchange (or LME).

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Copper stock levels declined

On January 8, the stock levels of copper on the LME declined 0.57% and reached 236,650 tons. The highest stock level of copper in recent times was recorded as 371,250 tons on August 28, 2015, and the level has fallen by 36.25% since then.

The inventory levels of aluminum on the LME have been in a downtrend since the beginning of 2015. On January 8, the stock levels of aluminum dropped 0.2% to 2,871,100 tons. In the week ended January 2, 2016, the LME aluminum inventory levels fell by 0.6% to 2,895,525 tons. In 2015, the aluminum stock levels in LME declined by 31.7%.

Inventory levels of nickel and zinc declined 

The stock levels of nickel on the LME decreased by 0.9% in the week ended January 2, 2015, and reached 441,294 tons. On Friday, the inventory levels of nickel declined 0.06% and reached 438,576 tons. The LME stock levels of nickel reached a low of 393,228 tons on December 9 and rose 11.5% from that low.

In the week ended on January 2, the stock levels of zinc on the LME fell by 3.9% and reached 470,975 tons. On Friday, January 8, the stock levels of zinc dropped 0.2% and reached 455,200 tons. The recent peak inventory level of zinc reached 617,325 tons on September 15, 2015, and has dropped by 26.3% since then.

Stock levels of tin increased

The inventory level of tin declined 8% and reached 6,140 tons in the week ended January 2, 2016. On January 8, the stock levels of tin increased 0.8% and reached 6,295 tons. The inventory levels of tin in LME declined 49% in 2015.

The stock levels of lead decreased 0.05% and reached 191,175 tons on Friday. Base metal miners Freeport-McMoRan (FCX), Glencore (GLNCY), Alcoa (AA), and BHP Billiton (BHP) declined by 3.5%, 0.9%, 2.4%, and 2.2%, respectively, on January 8. The SPDR S&P Metals & Mining ETF (XME) dropped 2.7% on Friday.

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