Aluminum bearish amid Euro Zone's debt woes

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Source: Dukascopy Bank
Industry metals lost momentum lent by the global growth outlook improvement and slid along with weakening global equities and uncertainty over China's demand.

Aluminum followed bearish trend provoking an increase in  the number of short. However, spot demand started to improve as the US and Japan's economies commenced to recover.

Copper was flat as risk-sentiment was dented by the Euro Zone's debt woes. However, tightening supply and increasing buying of China's stocks created some stimulus for the red metal.

Nickel was pressured by pessimistic news from the Euro Zone and deteriorating spot market participation. Despite current weakness, the metal may regain strength as Indonesia is set to ban unprocessed nickel exports to increase the metal's price.

Zinc was unchanged at the LME on Wednesday as the metal continued to balance between weak demand and medium-term supply concerns.


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