Copper rallied as inventories fell to record low

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Source: Dukascopy Bank
Industry metals rallied on Friday on hopes for the third round of quantitative easing in the US after dismal growth data.

Aluminum followed copper's trend as spot demand indicated improvement. However, China's demand is expected to decline by 11% in 2012, reported Rusal.

Copper was the top-gainer on the record low red metal's inventories at the LME and Shanghai warehouses.

Nickel was the only loser amid weak Euro Zone's confidence data. Meanwhile, the metal may seek support on the better earnings of steel producers.

Zinc appreciated as warrants increased signaling on the improving spot market activity.


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Mon, 30 Apr 2012 12:26:43 GMT

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