Aluminum gained on better China's demand

Source: Dukascopy Bank SA

Industry metals closed on the positive note on Friday as risk-sentiment improved after EU policymakers pledged to do everything necessary to preserve the single currency. Meanwhile, market players were cautious ahead of key PMI data due this week.

Aluminum added almost 1% on improving China's demand. China's production of aluminum electrolytic rose by annualized 9.7% in H1.

Copper advanced on potential demand increase. Restricting copper's gains, Chile's Collahuasi, the world's third largest miner, stated that copper output is likely to improve in H1.

Nickel was almost flat as global easing hopes failed to outweigh demand concerns as market still remains in surplus.

Zinc was the top-performer despite record-high inventory levels. The metal drew strength from weaker US Dollar and improved risk appetite among investors.

 

 

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