LME off-warrant stock up 10%; aluminium up to 1.2 mln tonnes, zinc down 21%

The London Metal Exchange’s latest off-warrant stock data showed a net rise of 148,027 tonnes of material held outside of the LME network, with aluminium stockpiles increasing the most, while off-warrant zinc stocks showed a 21% decline compared with a 13.5% climb in LME on-warrant inventory over the period.

The data, released on Thursday September 10, reported stock levels at the end of July. The data is released with a one-month delay.

At the end of July, the LME held a total of 1,497,551 tonnes off-warrant, up by a little less than 10% from 1,349,524 tonnes at the end of June 2020. Some 81.4% of total LME off-warrant inventory was now made up of aluminium, up by 2.4% from the corresponding figure for June.
LME off-warrant aluminium stocks rose by a total of 145,678 tonnes over the June-July period, to 1,218,377 tonnes from 1,072,699 tonnes, and accounted for almost all of the off-warrant stock increases over the month.

This came against a...


Hassan Butt

September 11, 2020

15:55 GMT