The London Metal Exchange's latest off-warrant inventories data showed a decrease of 46% in total zinc stocks, while lead inventories more than doubled in the month of January.
The total amount of material held outside of the LME network increased by 2.5% during the first month of the year to 1.93 million tonnes, after a decrease of 3.9% to 1.88 million tonnes in December.Aluminium remains the biggest contingent of metal kept outside LME warehouses, accounting for 84% of the total, and increasing by 51,500 tonnes in January (3%) to 1.63 million tonnes from December's data.The biggest decrease over January was in zinc stocks, which almost halved to 65,440 tonnes outside the LME network, while inventories for its sister metal, lead, increased almost three-fold to 25,092 tonnes, following a 70% drop in December.There was no tin left in off-warrant stock levels again - the same happened in November - following a 50-tonne increase in Port Klang, Malaysia in December.The data is released with a...