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London Metal Exchange: Copper, Nickel, and Lead Update

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Copper stock levels fell

On February 18, the inventory levels of all the base metals except for copper, nickel, and lead declined in the LME (London Metal Exchange). Lead’s inventory levels in the LME had the biggest surge out of all the base metal stock levels on February 18. Copper’s inventory levels rose by 0.04% and reached 209,950 tons. Recently, copper’s highest stock level was recorded at 371,250 tons on August 28, 2015. Since then, it fell by 43.5%. Aluminum’s inventory levels in the LME have been in a downtrend since the beginning of 2015. On February 18, the aluminum stock levels fell by 0.21% to 2,793,650 tons. In the week ending on February 13, aluminum’s inventory levels in the LME fell by 1% to 2,746,275 tons. Last year, the aluminum stock levels in the LME fell by 31.7%.

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Nickel inventory levels fell

The nickel stock levels in the LME fell by 0.22% in the week ending on February 13. They reached 439,104 tons. On February 18, Nickel’s inventory levels rose by 0.20% to 438,306 tons. The nickel stock levels in the LME reached a low of 393,228 on December 9. They rose 11.5% from that low.

In the week ending on February 13, the zinc stock levels in the LME fell by 0.93% and reached 459,675 tons. On February 18, the zinc stock levels fell by 0.33% to 497,825 tons. Recently, zinc’s peak inventory level was at 617,325 tons on September 15, 2015. Since then, it fell by 19.4%.

Lead’s stock levels rose

Tin’s inventory levels fell by 0.24% to 4,085 tons on February 18. In the week ending on February 13, the tin stock levels fell by 7.03% to 4,295 tons. Tin’s inventory levels in the LME fell by 49% in 2015. The lead stock levels rose by 2.8% and reached 206,075 tons on February 18. Base metals Freeport-McMoRan (FCX), Glencore (GLNCY), Alcoa (AA), and BHP Billiton (BHP) fell 0.14%, 1.8%, 4.7%, and 0.54%, respectively, on February 18. The Power-Shares DB Base Metals Fund (DBB) rose by 0.67% on February 18.

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