Zinc advanced despite high inventory levels

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Industry metals were slightly higher on Thursday as Mario Draghi pledged to put any efforts necessary to save the single currency. Easing Eurozone's worries restored inventors' confidence, hence sending riskier assets higher.

Aluminum rose on improved risk-sentiment after Mario Draghi comments. However, high Chinese output continued to weight on the light metal.

Copper prices increased as the red metal's markets remain in deficit. At the same time, softer demand from China, Japan and the US created significant pressure on the metal.

Nickel was unchanged at LME amid weakening spot demand and persistent oversupply in the market.

Zinc was the top-gainer despite 30-year high inventory levels. Meanwhile, negative data from Asia is likely to send the metal lower.

 

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