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Nickel inventory rises

FXStreet (Mumbai) - The inventory data released today by the London Metal Exchange (LME) showed a decline in the inventory levels of Aluminium, Copper, Lead, Zinc. Meanwhile, the data showed a rise in the inventory level of Nickel.

Aluminium and Copper Inventory declined by 9550 tonnes and 250 tonnes respectively, while Lead inventory and Zinc inventory declined by 250 tonnes and 2850 tonnes respectively. Nickel stands out today as the only metal whose inventory rose by 1986 tonnes.

Metal prices are under pressure today, erasing yesterday’s gains as the concerns of global growth slowdown are once again under focus.

Brent Crude at June 2012 levels.

Brent Crude has slumped to a level last see in June 2012 with the energy stocks and funds getting hammered across the board. Prices fell below USD 90/barrel levels yesterday for the first time since June 2012. The November futures are trading lower by 0.93% at USD 89.21/Oz.
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