Aluminum shed 1.3% on global growth fears

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Industrial metals tumbled on Monday amid lingering global growth concerns. The IMF cut its global growth estimates while the Word Bank lowered China's economic expansion forecast and feared that downside risks would persist. Meanwhile, market participants awaited the EU officials meeting due later in the week.

Aluminum extended its losses as industrial production in Germany fell 0.5% in August compared to an increase of 1.2% in July.

Copper dropped as global growth concerns fuelled fears that demand for the red metal may weaken. 

Nickel sank amid oversupply in the market and weak demand from steel sector. Persistent concerns over eurozone's debt crisis and austerity measures in the region sent the metal lower.

Zinc plunged on elevated inventory levels at the LME-monitored warehouses.

 

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