Industry metals rose on Monday on easing hopes from the Fed and softer US Dollar. However, the upswing was limited by escalated global growth concerns after Spanish borrowing costs surged to an unsustainable level of 7%.
Aluminum jumped as expected easing measures are likely to increase light metal's demand. However, economic slowdown in China and closures of mines both weighted down on the metal's price.
Copper moved higher, balancing between hopes for extra monetary stimulus from the Fed and a 17.5% monthly fall in China's copper imports. Decreasing copper stockpiles at LME warehouses provided lifted red metal's price.
Nickel was the top-gainer ahead of the FOMC minutes release due on Thursday. Traders also await important Chinese data on Friday.
Zinc futures closed higher at LME on Monday as investors continued to anticipate decisive actions from the Fed to revive faltering US economy.