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Aluminium stocks continue to decline, while Nickel stocks gain

FXStreet (Mumbai) - The daily inventory data from the London Metal Exchange (LME) showed a decline in the inventory levels of Aluminium, Lead, and Zinc. The inventory levels of Copper and Nickel increased.

The Aluminium inventory fell by 75020 tonnes while that of Lead and Zinc declined by 25 tonnes and 2825 tonnes respectively. Meanwhile, Copper and Nickel inventory levels rose by 275 tonnes and 618 tonnes respectively.

Metals have strengthened today tracking gains in the risk assets across the globe. Moreover, the weakness in the US Dollar Index is supporting metal prices.

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