Metal held outside London Metal Exchange warehouses decreased for the second month in a row, by a slight 6% in April to 1.17 million tonnes, after falling 40% in March.
The LME's latest off-warrant stock report showed a decrease of 74,358 tonnes over the fourth month of the year, following a decrease of 841,034 tonnes in March. The volume per metal dropped for five of the six main metal contingents in the LME. The biggest decreases per metal were for copper and nickel off-warrant stocks, both down by just over one third of their March amounts, while zinc stocks also fell 20.8%. Aluminium stocks stayed relatively stable at around 1 million tonnes, and still represented 85.8% of all metal held outside of the exchange's warehouses....