Nickel climbed despite supply glut

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

Industrial metals apart from nickel retreated on profit booking after last week's rally. Moreover, growth concerns in Eurozone and China created heavy selling pressure on the base metals' pack.

Aluminum  went lower on rising cautiousness among investors amid uncertainty over Spain's bailout. Over the weekend thousands of people in Spain protested over budget spending cuts.

Copper slid almost one per cent on growth concerns in China as Citigroup Inc lowered its China's growth forecast for this year from 8.00% to 7.6%.

Nickel was the only gainer despite persistent supply glut in the market. Additionally, weak Eurozone's sentiment capped the upswing of the nickel's price.

Zinc tumbled despite supporting China's data as home prices in Chinese cities dropped last week providing a room for policy easing.

 

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
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.