Copper rose on the EU optimism

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Source: Dukascopy Bank SA
Industry metals skyrocketed on Friday as EU leaders decided to ease pressure on the indebted countries and put emphasis on growth-boosting strategies.

Aluminum rose despite reports that China's aluminum output remained at record high levels. Moreover, the government increased subsidies for smelters thus supplies are likely to stay ample.

Copper gained a spree on the Eurozone's optimism. However, buildup in copper inventories at LME warehouses limited gains of the red metal.

Nickel advanced as hopes for recovery of the Eurozone's economy boosted demand prospects for the metal.

Zinc was the top-performer as increased demand from Japan and Korea provided fresh stimulus for the metal.


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Mon, 02 Jul 2012 13:44:33 GMT

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