Zinc fell as manufacturing activity remains weak

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Source: Dukascopy Bank SA
Industry metals moved lower in short Wednesday's session as Spain is set to start a new austerity measure of EUR30 billion after its borrowing costs rose again.

Aluminum tumbled on lingering worries over the Eurozone's economy. However, strong vehicle demand is likely to support the metal.

Copper dropped, following common trend of the base metals pack. At the same time the red metal may regain strength from potential fall in supplies from Peru caused by mine workers strikes.

Nickel fell despite tightening supplies as Australia imposed minerals tax. Meanwhile, traders are cautious ahead of the ECB meeting due on Thursday.

Zinc eased down as global manufacturing state remained weak in June. However, limited supplies and global easing hopes are expected to boost the metal's price.
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