LME: Copper Stocks Fall 2,200t, Nickel Down 1,314t

Inventory draws of this breadth across LME warehouses point to tighter near-term availability rather than a single-metal story, with aluminium the lone holdout. That matters for anyone tracking physical tightness in industrial metals, which sit closer to the RWA conversation than most crypto-native assets. Whether the declines reflect genuine consumption or routine warehouse reshuffling is the open question; the aluminium flatline is the detail worth watching next.