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Lead Rises to Highest in Three Weeks Amid Sign of Tighter Supply

  • Inventories tracked by LME drop for a record 48th session
  • Freeport, Teck shares drop as copper and other metals slide
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Lead advanced to the highest in three weeks as inventories tracked by the London Metal Exchange shrunk. Copper and other metals fell, sending shares of mining companies lower.

Stockpiles of lead fell for a 48th session, the longest slump since at least 1970. Inventories are down 42 percent this year to 128,225 metric tons, the smallest since October 2009. Glencore Plc has said it will cut annual output by about 100,000 tons.