London Metal Exchange non-ferrous metal inventories declined across most key metals on August 12, 2026, with lead posting the sharpest drop, according to analysis by SunSirs, China Commodity Data Group. Lead inventories recorded the most significant decrease, falling 3,225 tonnes to 417,075 tonnes, according to the report published on August 13, 2026. This sharp decline heightened expectations of tight supply conditions and provided support for spot lead prices.
Copper inventories also declined meaningfully, dropping 2,425 tonnes to 212,125 tonnes, indicating tightening supply in the spot market and providing bullish support for copper prices, which traded with a firm tone. Zinc and aluminum inventories posted more modest declines. Zinc inventories fell 1,725 tonnes to 95,350 tonnes, providing slight support for spot zinc prices.
Aluminum inventories decreased by 1,700 tonnes to 251,700 tonnes, offering modest bullish support for spot aluminum prices. Tin inventories also slipped marginally, declining 50 tonnes to 5,590 tonnes. Nickel was the only major metal to show no inventory movement, remaining unchanged at 264,744 tonnes from the previous trading day.
According to SunSirs analysis, with no clear drivers evident on the supply-demand front, the impact on spot nickel prices remained neutral, with prices currently lacking a clear directional trend. The overall pattern of inventory draws across the LME complex reflects tightening physical market conditions for most non-ferrous metals, particularly lead, which has emerged as the most constrained commodity among the major tracked metals. SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years.
Source: SunSirs (China Commodity Data Group), published August 13, 2026.
Source: sunsirs.com