Aluminum rises on bottom fishing

Source: Dukascopy Bank SA
Industrial metals jumped on Friday on improved sentiment after Cypriot lawmakers worked out the new plan to receive the bailout. Boosting the metals further, the US Dollar continued to slide against its major counterparts. However, rising LME stocks limited gains of the commodity group.

Aluminum surged on buying on the dips and prospects of production cuts. At the same time, elevated stocks at the LME and SHFE weighed on the metal. LME inventories rose 12,400 tonnes on Thursday, while those at the SHFE remained at record high.

Copper advanced on signs of resurfacing demand from China and easing concerns over Cyprus bailout. Meanwhile, climbing stocks at the LME kept a lid on copper. Copper inventories rose 5,025 tonnes on Friday to hover near a ten-year high.

Nickel was the top performer on hopes that China will increase its purchases before Indonesia imposes a total ban on nickel ore exports in 2014. However, persistent surplus on physical markets weighed on the metal.

Zinc moved higher, tacking gains of the commodity sector. Zinc also found support on increased cancelled warrants at the LME.
Back to articles

Actual Topics

Mon, 25 Mar 2013 07:51:06 GMT

Wheat inches up as snow delays early planting in the US

Farm commodities were divided on Friday on speculation that shipping delays from Brazil will increase demand for US supplies. Moreover, abnormal weather conditions in Argentina and in the US Great Plains added to gains of grain futures. Wheat rose on concerns that snow and wet weather in the key growing states in the US are delaying spring planting. However, the

Mon, 25 Mar 2013 09:21:06 GMT

Gold drops as Cyprus bailout concerns ease

Precious metals were mixed on Friday amid easing concerns over Cyprus bailout. Cypriot President Nicos Anastasiades has approached the EU leaders with the new plan on the bailout that would only tax deposits over EUR100,000. At the same time, weaker US Dollar coupled with expectations of robust physical demand in India supported the commodity sector. Gold declined as easing worries over

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.