Nickel may gain on lower iron-ore prices

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Source: Dukascopy Bank
Industry metals followed bearish trend on Wednesday along with slowing China's demand and uncertainty over the Euro Zone's debt crisis.

Aluminum declined amid fresh elections worries in the Euro Zone; however, improving spot activity may support the metal in the following sessions.

Copper attained three-week low, sliding under 8,000 US Dollars per ton as risk-appetite among investors was dented by turmoil in the Euro Zone. Adding to the negative mood of the red metal, China reported a 19% slump in copper imports last month.

Nickel was lower as demand concerns persisted. However, lower iron-ore prices may lift the nickel futures in the nearest term.

Zinc was the top-loser as production from Peru soared in March thus adding to worries about oversupply in the market.


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