Aluminum tumbled on global supply glut

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/AFP
Industrial metals dropped on Thursday amid mixed data from the US. US durable goods orders soared 9.9% in September while unemployment claims eased down last week. At the same time, pending home sales rose much slower than expected in September. Sending the commodity group lower, uncertainty over Spain continued to dampen demand for risker assets.

Aluminum remained in the negative territory as higher production volumes in China continued to exacerbate global aluminum surplus.

Copper was steady, balancing between positive releases from the US and dismal flesh PMI data from the eurozone.

Nickel and Zinc were the top-losers amid weak spot market activity and elevated inventory levels at the LME warehouses.


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