Zinc advances on short-term supply concerns

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals, excluding copper, moved higher despite a strong downward pressure from global growth concerns. The IMF cut its forecast for global economy from 4.1% to 3.5% for 2013. Meanwhile, market players were cautious ahead of flash manufacturing data from China due on Thursday.

Aluminum inched up as inventories at LME declined for the second session in a row. However, LME stocks still remain at elevated levels and may create pressure on the light metal's prices.

Copper dropped on signs of rising global production. Output at Chile's Escondida, the world's top copper mine, surged 31% year on year in Q4 of 2012. Moreover, production of refined copper in China rose 22% in December on an annual basis.

Nickel moved higher despite weak fundamentals. LME inventories stood at high levels while global demand is likely to remain weak amid slowing recovery of the world's largest economies.

Zinc was the top-performer as storm forced China's MMG Ltd to halt shipments from its Century mine, the second-biggest mine in the world.
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