LME Non-Ferrous Metal Inventories Plummet on August 5

LME non-ferrous metal inventories saw significant declines across the board on August 5, according to data from SunSirs. The London Metal Exchange (LME) reported a drop in copper inventory by 6,525 tonnes compared to the previous trading day.

This substantial decrease provided strong support for both spot and futures prices of copper, creating a favorable outlook for its price trend.

Others non-ferrous metals also saw declines: aluminum inventories fell by 1,500 tonnes, nickel inventory dropped by 96 tonnes, zinc inventory decreased by 200 tonnes, lead inventory plummeted by 3,325 tonnes, and tin inventory declined by 20 tonnes.