Aluminum plunges on rising LME stockpiles

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals apart from copper moved lower on Monday ahead of China's annual legislative session due on Tuesday. Elevated LME inventories as well as persistent global surplus added pressure on the commodity group. Political instability in Italy also sent base metals lower.

Aluminum dropped as LME inventories continued to hover near a record high of 5.24 million tonnes. Moreover, weak PMI releases coupled with uncertainty over the Fed's monetary policy weighed on the lightweight metal.

Copper bounced off a three-month low despite worries over demand from China, the world's top consumer. China's real estate sector curbs as well as slowing manufacturing activity are likely to reduce the country's demand for the red metal.

Nickel retreated despite talks China's demand for nickel ore may climb this year. China's purchases of nickel ore are expected to soar 14% in 2013 on stockpiling ahead of Indonesian export ban due to take effect next year.

Zinc slumped despite positive China's import numbers. China's imports of refined zinc jumped by annualized 7.8% in January.
Back to articles

Actual Topics

Tue, 05 Mar 2013 08:30:05 GMT

Brent oil declines on signs of weakening investment demand

Energy futures except for natural gas declined on Monday amid US fiscal uncertainties and slowing manufacturing sector in China. Investors continued to avoid risky assets ahead of USD85 billion in automatic spending cuts in the US due to come in force on Friday. However, escalated tensions in Libya restricted the downswing. Crude oil slumped on weak demand for risky assets amid

Tue, 05 Mar 2013 07:46:03 GMT

Silver slides despite robust China's demand

Precious metals dived on Monday on concerns that the Fed may end its bond-buying activities amid signs of economic recovery. At the same time, hopes for monetary stimulus in Japan and the Eurozone supported the commodity complex. Gold traded lower as investors cut their holdings in ETPs by the most since 2008 in February. However, strong physical demand from central banks

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.