Copper inched up after upbeat US GDP figure

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals apart from copper slid on Friday despite encouraging US data. US GDP expended more than expected last quarter, boosted by sharp increase in consumer spending. Meanwhile, larger-than-expected decline in the US UoM consumer sentiment sent base metals lower.

Aluminum extended previous losses, dropping by 0.83%. The metal continued to remain under heavy pressure after China reported that its output rose by annualized 9% in September.

Copper was the only gainer as positive US GDP data reassured investors that that demand for the red metal is likely to strengthen.

Nickel and Zinc shed 0.78% and 0.11% amid weak spot market activity and bloated inventories at the LME and Shanghai warehouses. 


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