Base metals rallied after China's and US PMI releases

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Source: Dukascopy Bank
Industry metals rallied on Monday after upbeat manufacturing data releases from the US and China. Broadly stronger equities also supported the gains. However, disappointing Euro Zone's unemployment data and stronger US Dollar weighted down on the base metals pack. Aluminium was mainly tracking the economic data releases while zinc continued to face weak spot demand and high inventory levels. Copper was the top-gainer over the day as the red metal was bolstered by diminishing inventories in China while the demand is likely to improve further in view of better manufacturing activity. At the same time, nickel followed copper's suit as spot demand for the metal improved slightly.


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Tue, 03 Apr 2012 15:17:24 GMT

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