Base metals faced mixed performance on Wednesday

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Source: Dukascopy Bank
Base metals faced mixed performance on Wednesday as the commodity group balanced on the positive data from the Euro Zone and slower than expected industrial production growth in the US and Japan. Copper, the top performer, was supported by BHP Billiton report of 7% decrease in the metal's output. However, restart of the Grasberg copper mine operations after three-month strike may weight down on the price. At the same time, nickel futures edged down on Wednesday but increase in cancelled warrants and in open interest may cause strong short and long-term demand.


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