The volume of copper held outside London Metal Exchange-listed warehouses plunged by 56% in September, with inventories of most base metals falling during that month, according to the LME's latest off-warrant stock report.
The total amount of metal held outside of LME sheds was down for a second consecutive month to 673,599 tonnes. This was a year-to-date low and was down by 17% from 813,916 tonnes in August.Copper showed the biggest decrease, with a 56% drop to just 28,828 tonnes, according to the LME.Aluminium continued to comprise the biggest proportion of off-warrant stock, but its volumes dropped by 17.5% over the month of September to just over 550,000 tonnes, while nickel's dropped by almost 15% to 8,042 tonnes.After a 77% drop in August, lead's stocks increased ten-fold...