Industrial metals edged higher on Monday

Source: Dukascopy Bank
Industrial metals, excluding nickel, erased Friday's losses as ongoing decrease of LME inventory level creates a positive foundation for growth in metals' price. On Tuesday copper opened on a positive note as faster than expected economic growth in China eased concerns over potential demand for base metals. Weaker US Dollar after China's data also contributed to copper's gains. However, economists expect a slowdown in the global economy to persist over the next six months that is likely to push industrial metals' prices down.

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