Aluminium was last $5 lower at $2,489. Stocks dropped 7,950 tonnes to 4,404,225 tonnes ahead of ‘Third Wednesday’. Cancelled warrants - the metal booked for removal - fell 4,225 tonnes to 371,375 tonnes.
Copper inventories rose a net 925 tonnes to 462,950 tonnes, although cancelled warrants rose 1,500 tonnes to 21,575 tonnes.
Nickel, which had hit its highest since May 19 at $24,499 on Friday, lost $365 to $23,790. Inventories fell to a new low since March 2009 at 102,354 tonnes after an 840-tonne drop and cancelled warrants fell 708 tonnes.
Zinc was $52 higher at $2,427. Cancelled warrants rocketed 36,275 tonnes or 93.3 percent to 75,175 tonnes, with activity focused on New Orleans, while stocks fell 4,050 tonnes to 887,300 tonnes.
Lead, at $2,732, was $24 higher, while tin fell $100 to $27,100.
Steel billet was indicated at $565/585 versus $565/575 at Friday’s close. Cobalt lost $500 to $34,000/36,000 and molybdenum was at $32,300/36,500.
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