Aluminum rose as lower prices lured buyers

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals were divided on Tuesday amid as demand for risky assets weakened after Cyprus rejected bailout conditions proposed by Eurozone officials. However, low prices lured some investors thus creating an upside potential for the commodity group.

Aluminum inched up on bottom fishing. However, the metal remained under pressure amid as elevated China's reserves are expected to weigh on demand from the top consumer.

Copper was the top-loser as market players were disappointed because of lack of China's purchases after Lunar New Year. Moreover, concerns that China's government may impose new property curbs also dragged the red metal lower.

Nickel declined amid worries over persistent supply glut. According to the latest bulletin from International Nickel Study Group, nickel supply exceeded demand by 17,000 tonnes in January.

Zinc led gains in the commodity sector as low prices spurred buying on the dips. At the same time, high LME inventories and a fall in cancelled warrants continued to weigh on the base metal.
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