Nickel inventory rises

FXStreet (Mumbai) - The inventory data released today by the London Metal Exchange (LME) showed a decline in the inventory levels of Aluminium, Copper, Lead, Zinc. Meanwhile, the data showed a rise in the inventory level of Nickel.

Aluminium and Copper Inventory declined by 9550 tonnes and 250 tonnes respectively, while Lead inventory and Zinc inventory declined by 250 tonnes and 2850 tonnes respectively. Nickel stands out today as the only metal whose inventory rose by 1986 tonnes.

Metal prices are under pressure today, erasing yesterday’s gains as the concerns of global growth slowdown are once again under focus.