LME Aluminum And Nickel Stocks Hit New Highs This Week, Highlighting Oversupply

According to foreign news on December 28, London Metal Exchange (LME) data showed that aluminum and nickel inventories in LME-registered warehouses jumped to a new high this week, highlighting oversupply.
Over the past two days, aluminum inventories increased by 42,400 mt to 551,050 mt, the highest level since June 19. Inventories have climbed 24% in the past two weeks.
LME data on Thursday showed that LME nickel inventories increased by 7.3% on the day to 62,022 mt, the strongest level since July 2022, and have surged 34% so far this month.