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Base Metal Inventory: All Base Metals Fell Except for Nickel and Tin

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Copper and aluminum stock levels fell

On February 10, except for nickel and tin’s stock levels, the inventory levels of all the base metals fell in the LME (London Metal Exchange). Copper’s inventory levels in the LME had the biggest fall out of all the base metal stock levels. Copper’s inventory levels fell by 0.36%. Copper stock levels fell by 0.36% and reached 227,300 tons on February 10. Recently, copper’s highest stock level was 371,250 tons on August 28, 2015. Since then, it fell by 38.8%.

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Aluminum’s inventory levels in the LME have been in a downtrend since the beginning of 2015. On February 10, aluminum stock levels fell by 0.17% to 2,756,400 tons. In the week ending on February 6, aluminum’s inventory levels in the LME fell by 0.98% to 2,773,975 tons. Last year, aluminum stock levels in the LME fell by 31.7%.

Nickel’s inventory levels didn’t change

Nickel stock levels in the LME fell by 1.8% in the week ending on February 6 and reached 440,082 tons. On February 10, nickel’s inventory levels remained unchanged at 439,068 tons. Nickel stock levels in the LME reached a low of 393,228 on December 9. They rose 11.7% from that low. In the week ending on February 6, zinc stock levels in the LME fell by 0.41% and reached 474,750 tons. On February 10, zinc stock levels fell by 0.28% and reached 459,525 tons. Recently, zinc’s peak inventory level was 617,325 tons on September 15, 2015. Since then, it fell by 25.6%.

Tin stock levels didn’t change

Tin’s inventory levels remained unchanged at 4,515 tons on February 10. In the week ending on February 6, tin stock levels fell by 17.9% to 4,620 tons. Tin’s inventory levels in the LME fell by 49% in 2015. Lead stock levels fell by 0.05% and reached 183,525 tons on February 10. Base metal miners Freeport-McMoRan (FCX), Alcoa (AA), BHP Billiton (BHP), and Glencore (GLNCY) fell by 0.4%, 3.5%, 0.64%, and 3.3% on February 10. The Power-Shares DB Base Metals Fund (DBB) rose by 0.21% on February 10, 2016.

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