Industrial metals soar driven by copper

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Source: Dukascopy Bank
Industrial metals soared on Tuesday following stronger than expected economic data from China. Aluminium and zinc were the top performers gaining 3.01% and 2.04%, respectively. At the same time, rallying copper appears to drive the upward trend of the commodity group. However, growing LME warehouses coupled with weak physical demand are likely to cap the upside of zinc. International Lead and Zinc study group also fueled worries over potential decline in zinc price reporting   337,000 tons surplus of zinc over 2011. Zinc can find support only in the surging copper prices and softer US Dollar.


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Wed, 18 Jan 2012 16:53:10 GMT

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