Industry metals fell as next QE in the US is not imminent

Note: This section contains information in English only.
Source: Dukascopy Bank
Industry metals apart from aluminium posted losses on Wednesday after Ben Bernanke's speech that provided a hint that the new QE in the US is not likely. Even inspiring industry data releases failed to retain metals on the positive area. Investors were also cautions ahead of China's PMI data during the volatile trade in the last day of the month. Meanwhile, aluminuim was the only gained due to strong demand as South Korea purchased 4000 MT of ingots via tenders from Glencore and LG International. However, copper and nickel did not gained such a spree and tumbled on the contradicting actions of the ECB and Fed. Nickel is likely to be pressured by poor steel demand. Further, zinc remained the weakest metal with the record high inventories and low spot demand.


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