Aluminum declined despite production cuts

Source: Dukascopy Bank SA
Industry metals except for nickel depreciated on Friday as slowing manufacturing activity all over the world continued to dominate market sentiment.

Aluminum remained weak despite significant fall in output in the recent months as producers are closing down smelting facilities as a response to low prices.

Copper balanced between pessimistic manufacturing data and positive news from the Eurozone as four largest economies agreed on additional stimulus to boost growth.

Nickel was the only gainer as spot demand remained strong; however, dismal economic releases may weight on the metal in the following sessions.

Zinc was the top-loser as market continued to stay in surplus. Moreover, weak demand and elevated inventory levels added pressure to the metal.


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