Nickel flat amid global surplus and elevated stocks

Source: Dukascopy Bank SA
Base metals apart from nickel advanced on Thursday despite worries over rising global inventories and weak China's demand. However, industrial metals found support on Mario Draghi comments that the ECB will continue its easing measures as long as needed.

Aluminum climbed as cancelled warrants at the LME continued to rise, indicating strong spot demand. Adding to gains, stockpiles at the LME and SHFE witnessed a decline, falling 16,350 and 397 tonnes, respectively.

Copper rose after Codelco, the world's largest copper mine, announced about 60,000 tonnes of copper was blocked because of port strike in Chile. Meanwhile, cancelled warrants at the LME more than doubled in the last ten sessions.

Nickel dipped amid global oversupply and elevated inventories. Stocks at the LME rose 2,658 tonnes last week to hover near a three-year high. Meanwhile, nickel market was in surplus of 17,000 tonnes in January, reported the INSG.

Zinc rallied despite excessive supply on the physical market. The metal was boosted by a recent fall in inventories and rising cancelled warrants ratio at the LME.
Back to articles

Actual Topics

Fri, 05 Apr 2013 07:50:07 GMT

Natural gas rallies as US supplies fall more than expected

Energy futures except for natural gas finished in the negative area on Thursday as weak US jobs market data raised concerns over energy demand prospects. Moreover, a recent bearish EIA report continued to push oil prices lower. Crude and Brent oil tumbled as market players were cautious that Friday's jobs report may disappoint. Oil futures also were depressed by a recent

Fri, 05 Apr 2013 07:06:08 GMT

Platinum dips as investors cut bets for price increase

Precious metals declined amid signs of weakening investment demand. At the same time, precious metals pared losses after the ECB President Mario Draghi said that the monetary policy will remain loose as long as needed. Moreover, disappointing US jobless claims data lent support to the commodity sector. Gold traded lower as holdings of gold-backed ETPs stood at 2,435.35 metric tonnes on

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.