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  • COMEX Copper eased, adding to losses as a drop from around one and half week highs of $4.16 per pound extended. The red metal fell after Chinese central bank asked the nations major lenders to curtail loan growth for the rest of this year to bring the housing boom under control. This hurt Copper as China is the leading consumer of the red metal. A rising trend in LME inventories data is capping the upside in the red metal. LME Copper stockpiles have edged up near a four-month high. The metal surged amid good buying as weak US dollar index, which fell near 92 mark, boosted the sentiments. MCX Copper futures moved up near Rs 700 per kg before witnessing some upside resistance and ended just under Rs 690 mark.

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