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Copper Inventory rises

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

Aluminium inventory continued its down trend, falling by 4450 tonnes today. Meanwhile, Zinc inventory and Lead inventory declined by 75 tonnes each. Inventory level of Copper and Nickel rose by 2925 tonnes and 1824 tonnes respectively.

Copper and Zinc prices dropped today for the first time in three days after the Chinese CPI report was released. Moreover, the fall in Chinese CPI raised concerns of a weakening demand, which hurt the metal prices.

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