LME off-warrant stocks climb 12% in August; Al inventory near 1.4mln tonnes

The London Metal Exchange’s latest off-warrant stock data showed a net rise of 184,352 tonnes of material held outside the LME network month on month in August, with aluminium stockpiles accounting over 80% of the total, while zinc inventories continued their ascent both on and off-warrant.

The data, released on Monday October 10, reported stock levels at the end of August. The data is released with a one-month delay.

At the end of August, the LME held a total of 1,681,903 tonnes off-warrant, up by 12.3% from 1,497,551 tonnes at the end of July 2020. Aluminium inventory made up 81.9% of total off-warrant stock, a similar proportion to the prior month.

LME off-warrant aluminium stocks rose by 159,628 tonnes to 1,378,005 tonnes for August. This comes amid a continued trend of declining LME on-warrant aluminium stocks against large fresh cancellations out of LME-registered warehouses in Southeast...


Hassan Butt

October 16, 2020

16:27 GMT