By Vibin Antony
Major base metal prices and inventories at London Metal Exchange showed a mixed trend on Wednesday ahead of the Thursday's European Central Bank (ECB) meeting.
Prices for LME copper down by 2.3% to $5630.50 a ton on Wednesday, while inventories rose by 3225 tons to 219450 tons and a cancelled warrants ratio of 10.8%.
Copper inventories advanced on Wednesday as good housing data came from the U.S, the world's secondary biggest consumer. US home builders broke ground on more houses in December 2014, U.S. Department of Commerce reported Wednesday.
LME Aluminium prices edged up to $1831 a ton on Wednesday, while inventories down by 4200 tons to 4102475 tons and a cancelled warrants ratio of 57.12%.
Prices for LME nickel gained by 1.6% to $14770 a ton on Wednesday, while inventories rose by 1902 tons to 419964 tons and a cancelled warrants ratio of 23.47%.
LME Aluminium alloy prives advanced on Wednesday, while lead, tin and zinc traded down.
Major base metal prices and inventories at London Metal Exchange showed a mixed trend on Wednesday ahead of the Thursday's European Central Bank (ECB) meeting.
Prices for LME copper down by 2.3% to $5630.50 a ton on Wednesday, while inventories rose by 3225 tons to 219450 tons and a cancelled warrants ratio of 10.8%.
Copper inventories advanced on Wednesday as good housing data came from the U.S, the world's secondary biggest consumer. US home builders broke ground on more houses in December 2014, U.S. Department of Commerce reported Wednesday.
LME Aluminium prices edged up to $1831 a ton on Wednesday, while inventories down by 4200 tons to 4102475 tons and a cancelled warrants ratio of 57.12%.
Prices for LME nickel gained by 1.6% to $14770 a ton on Wednesday, while inventories rose by 1902 tons to 419964 tons and a cancelled warrants ratio of 23.47%.
LME Aluminium alloy prives advanced on Wednesday, while lead, tin and zinc traded down.
Latest LME Inventories and Cancelled Warrants Ratio are given Below:
NB: In the above table Green and Red indicate up and down in Inventories respectively. Data Courtesy to LME
The European Central Bank (ECB) is set to meet on Thursday, which could see some movements in currencies, with many market participants expecting the ECB to introduce a quantitative easing programme at this week's policy meeting.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
NB: In the above table Green and Red indicate up and down in Inventories respectively. Data Courtesy to LME
The European Central Bank (ECB) is set to meet on Thursday, which could see some movements in currencies, with many market participants expecting the ECB to introduce a quantitative easing programme at this week's policy meeting.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
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