SunSirs: Analysis of LME Metal Inventory Changes on February 11

On February 11th, the following were the inventory and changes of base metals on the London Metal Exchange (LME):

1. Copper inventory: 192,100 tons, up 3,000 tons from the previous day.

2. Aluminum inventory: 485,750 tons, down 1,225 tons from the previous trading day.

3. Nickel inventory: 285,750 tons, unchanged from the previous day.

4. Zinc inventory: 105,250 tons, down 1,500 tons from the previous day.

5. Lead inventory: 232,950 tons, up 200 tons from the previous day.

6. Tin inventory: 7,550 tons, up 120 tons from the previous day.

Evaluation and Analysis

Copper:

Copper inventories increased by 3,000 tons, indicating increased supply pressure, which may lead to oversupply in the spot market and have a generally negative impact on spot prices.

Aluminum

Aluminum inventories decreased by 1,225 tons, resulting in a slight tightening of supply. However, the change was limited and had a slight positive impact on spot prices, potentially supporting price stability.

Nickel

Nickel inventories remained flat, supply and demand remained balanced with no significant changes, and the impact on spot prices was neutral, with market expectations remaining stable.

Zinc

Zinc inventories decreased by 1,500 tons, a significant reduction in supply, which may tighten the supply and demand in the spot market and have a generally positive impact on spot prices.

Lead

Lead inventories increased by 200 tons, and supply increased slightly, but the change was minor and had a slightly negative impact on spot prices, with limited influence.

Tin

Tin inventories increased by 120 tons, raising supply pressure and potentially leading to an oversupply in the spot market, which would generally have a negative impact on spot prices.

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