The London Metal Exchange's latest off-warrant stock data showed a net rise of 123,871 tonnes of material held outside the LME network over September, a rise of 7.3% from the prior month with aluminium stockpiles accounting for just under 87% of the total.
Copper inventories made a marked descent after incremental rises over the summer.
The data, released on Monday November 10, reported stock levels at the end of September. The data is released with a one-month delay.
At the end of September, the LME recorded a total of 1,805,774 tonnes off-warrant, up by a little over 12% from 1,681,903 tonnes at the end of August 2020. Some 86.4% of total off-warrant inventory was made up of aluminium, up by 6.4% from the prior month.
LME off-warrant aluminium stocks rose by 180,451 tonnes to a total of 1,558,456 tonnes for September, up from 1,378,005 the previous month and once again...