Aluminium stocks fall while Nickel stocks rise

FXStreet (Mumbai) - Metal inventory data from the London Metal Exchange (LME) today showed a decline in inventory levels of Aluminium, Copper, and Zinc. Meanwhile, Lead inventory remained unchanged while Nickel inventory increased.

Aluminium and Zinc inventory declined by 13525 tonnes and 2450 tonnes respectively. Lead inventory remained unchanged, while Nickel inventory increased by 282 tonnes.

Nickel is down 1% along with other metals after the Chinese services PMI data highlighted a slowdown in economic activity. The downward revision of global growth forecasts by the International Monetary Fund (IMF) hurt the metals as well.