Zinc dropped as inventories continued to rise

Source: Dukascopy Bank SA
Industry metals were mixed on Wednesday after US industrial goods orders rose sharply in May, indicating an improve in industrial performance of the country.

Aluminum erased previous losses, gaining a spree after US reported an increase in pending home sales last month.

Copper advanced amid positive data from the US. However, rising risk-aversion ahead of the EU summit due to start on Thursday.

Nickel slid despite improving spot market activity at the LME. However, skepticism about the EU summit continued to dent investors' sentiment.

Zinc was the top-loser amid elevating inventory levels at the LME warehouses. However, strong global equities limited the losses of the metal.


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Thu, 28 Jun 2012 13:17:30 GMT

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