Zinc bolstered by improved manufactoring activity in the US

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Source: Dukascopy Bank
Industry metals were mixed on Tuesday with advancing zinc and copper and falling aluminum and nickel. Expanding manufacturing activity in the US and improved consumer sentiment in the Euro Zone both created a boost for the base metals' prices. Indications of property market recovery in China also contributed to gains. However, strong price stimulating factors failed to support nickel and aluminum that fell on weaker demand. Copper price drew some strength from record low inventory level in China's stockpiles while zinc, the top-gainer, was greatly bolstered by the US Richmond manufacturing index increase. However, the upswing may be capped by the high inventory level and weak spot demand.
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Wed, 29 Feb 2012 17:35:58 GMT

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