Zinc slid as clashes at Bolivian mines to end soon

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Source: Dukascopy Bank SA
Industry metals apart from nickel slid on Wednesday after the Fed left no hopes for QE in the nearest term. Traders were also cautious ahead of HSBC China's PMI release due on Thursday.

Aluminum followed bearish trend on absence of easing in the US. Meanwhile, China's production cuts approached such level that it may support weak prices due to lower supply.

Copper declined after Fed decision. However, eased worries across Greece after three parties managed to form a coalition limited losses of the red metal.

Nickel was the only gainer as spot market activity has improved. However, elevating inventory levels in China may limit the upswing.

Zinc also was exposed to the Fed incentive not to inject extra liquidity in the US economy. Meanwhile, clashes between competing miners in Bolivia are likely to be resolved thus may weaken the price.


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Thu, 21 Jun 2012 14:38:05 GMT

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