Zinc fell on weak spot demand and lack of China's interest

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Source: Dukascopy Bank
Base metals, except for aluminium, fell on Monday as Greek debt talks and weak Euro dampened investors' sentiment in the industry metals. Aluminium, the only gainer, found support on the falling LME inventories and deficit on the market. At the same time, zinc tumbled by 1.16% as cancelled warrants have been constantly declining, hitting the lowest level among all LME metals thus reflecting weak spot demand. Industry metals may continue to fall as recent industry data is not inspiring and Chinese traders, who returned to the market after holidays, have not showed strong desire to buy base metals.

 

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