Base metals were bullish on Tuesday despite lingering concerns over global manufacturing weakness after dismal US PMI release. However, persistent hopes that poor economic data will result in easing measures from the Fed lifted the industrial metals.
Aluminum stayed in the positive territory on heightened hopes for monetary easing in the US, EU and China. Better automobile demand also provided support for the light metal.
Copper inched up on lower LME inventories and potential increase in demand in case of easing measures globally. At the same time, broadly stronger greenback created pressure on the red metal.
Nickel was flat as markets continued to remain at surplus. Meanwhile, investors are cautious ahead of the ECB press conference due on Thursday.
Zinc prices increased despite stronger US Dollar and mixed global equities.