On September 15, London Metal Exchange (LME) non-ferrous metal inventory levels and changes were as follows:

1. Copper inventory: 249,225 tonnes, up 6,325 tonnes from the previous day.

2. Aluminum inventory: 243,600 tonnes, down 250 tonnes from the previous trading day.

3. Nickel inventory: 278,580 tonnes, up 4,218 tonnes from the previous day.

4. Zinc inventory: 111,225 tonnes, down 1,675 tonnes from the previous day.

5. Lead inventory: 379,850 tonnes, up 1,325 tonnes from the previous day.

6. Tin inventory: 4,890 tonnes, down 230 tonnes from the previous day.

Analysis and Commentary

Copper

LME copper inventories rose by 6,325 tonnes from the previous trading day; the significant increase fueled expectations of looser market supply, exerting moderate downward pressure on copper prices.

Nickel

LME nickel inventories increased by 4,218 tonnes from the previous trading day; the substantial rise heightened supply-side pressure, exerting moderate downward pressure on nickel prices.

Aluminum

LME aluminum inventories fell by 250 tonnes from the previous trading day; the slight reduction in stocks fostered expectations of a marginally tighter supply, providing modest support for aluminum prices.

Zinc

LME zinc inventories fell by 1,675 tonnes from the previous trading day; the extent of the drawdown was notable, and expectations of tightening supply have strengthened, providing moderate bullish support for zinc prices.

Lead

LME lead inventories rose by 1,325 tonnes from the previous trading day; this slight increase in stocks has marginally raised supply pressure, exerting a slight bearish influence on lead prices.

Tin

LME tin inventories dropped by 230 tonnes from the previous trading day—a decline of nearly 5%. This significant drawdown, coupled with strong expectations of tightening supply, provides moderate bullish support for tin prices.

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