Aluminum slumps on elevated LME inventories

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/AFP
Industrial metals dropped on Thursday amid Eurozone's woes. The ECB lowered its outlook on the Eurozone's economy, citing weak consumer and investor confidence. Limiting the downswing, Chinese demand is likely to recover. The China's government announced that it will stick to the current policies but is ready to make adjustments if necessary. 

Aluminum slid despite brighter demand perspectives in China. The light metal remained under pressure as inventories at LME stood near record high on Wednesday.

Copper dipped amid solid greenback and disappointing ECB comments. However, the red metal may note some gains on hopes for China's reforms.

Nickel declined on bloated inventories at the LME and a recovery in supply of nickel ore from Indonesia.

Zinc tanked amid weak activity on the spot market and elevated stocks at global exchange warehouses. Stocks at LME slid 1,950 tonnes on Wednesday to hover near 17-year high.


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