LME inventories: lead falls 3,925 tonnes, tin down 25 tonnes

The split between falling lead and tin stocks and rising copper, nickel and zinc inventories points to uneven physical demand across the base metals complex rather than a single market-wide trend. Lead's outsized draw is the standout, though a single session's warehouse data is thin evidence of a durable shift. What matters is whether these movements persist across coming reports or prove to be routine flow noise; the divergence between drawdowns and builds is the open question worth tracking.