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Aluminum was the top-performer on signs of potential shortage on physical market. Aluminum market, being in contango, makes storage more viable for the metal's holders. However, higher inventories at the LME warehouses and a fall in cancelled warrants weighted on the light metal.
Copper jumped on encouraging data releases from the US and expectations that supply shortage may extend to H1 of 2013. However, the red metal traded in a narrow range amid elevated stockpiles at LME.
Nickel inched up, tracking firmness of the base metals. At the same time, rising stocks at LME and improving supplies from Indonesia pressurized nickel price.
Zinc surged on positive US numbers and a sharp increase in cancelled warrants at LME warehouses.