Base metals did not followed the copper's fall

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Source: Dukascopy Bank
Industrial metals, except for copper, advanced on Tuesday, showing noncompliance with usual trend of following copper's lead. Base metals mainly found support on better than expected PMI releases from the Euro Zone and the US. However, growing concerns over failure to agree on the debt restructuring in Greece limited gains of the commodity group.  Nickel advanced 1.58% over the day but the upside may be capped by the stringer US Dollar. Nickel may find additional backup on the high cancelled warrants that attained one-year high, indicating strong demand. 


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