Base metals advanced on Thursday after US labour market data

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Source: Dukascopy Bank
Industry metals soared on Thursday, being supported by promising Fed comments about weak state of the US economy. However, pessimistic outlook on the Euro Zone's economy after surging interest rates on Italy's and Span's debt limited the upward trend of the base metals pack. At the same time, traders were cautious ahead of key China's economic data release.  Aluminum was only marginally higher as the light metal continued to face high inventory levels while copper was mainly rallying on the expected easing measures from the world's largest economies. Zinc rose on the larger trading volumes at the LME amid better spot market activity. Moreover, medium supply worries are likely to provide strong stimulus for the commodity. Nickel was the top-gainer despite growing energy prices that may block the upside.


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