Aluminum fell on weak demand

Source: Dukascopy Bank SA
Industry metals apart from aluminum rose despite weak industry data from the US. US factory production shank last month and consumer confidence data missed expectations.

Aluminum was the only loser as global economic instability and weak demand continued to force aluminum producers to reduce output capacity.

Copper rose despite more negative outlook on the metal's prices as money managers increased bearish cooper bets for the second week, extending net short holdings to the largest level since March 2009.

Nickel was the top-gainer despite weak spot demand as recent Indonesia's ban on nickel ore export to China spurred stockpiling. 

Zinc managed to climb by 0.63% on hopes that monetary easing and development of infrastructure projects will result in better spot demand.


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