Nickel rose despite weak demand

Source: Dukascopy Bank SA
© Scanpix/Reuters
Base metals rallied on Wednesday as US real estate market data signaled that the world's top economy is recovering.  However, investors remained cautious ahead of China GDP data release due early on Thursday.

Aluminum was the best-performer, rebounding after previous losses on positive headlines from the US. However, the upswing was capped by persistent oversupply in the market.

Copper advanced on promising numbers from the US housing market and eased concerns over Spanish bailout.

Nickel rose despite subdued demand and elevated global inventory  levels.

Zinc moved in sync with copper and nickel, adding 1.24%. However, bleak demand prospects continued to weight on the metal.

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