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Copper and Nickel Invenotry 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. Meanwhile, the data showed a rise in the inventory levels of Copper and Nickel.

Aluminium inventory declined again, falling by 8475 tonnes today, while the Zinc inventory declined by 2700 tonnes. Nickel inventory increased by 2082 tonnes, while Copper inventory increased by 1625 tonnes. Lead inventory declined by 75 tonnes.

Nickel prices advanced for a second day on the LME on hopes of bargain hunting at lower levels and reduction in production of a lower-grade alternative. Meanwhile, Lead and zinc fell, while Aluminum was little changed.

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