Industrial metals apart from nickel tumbled on Thursday on weak manufacturing PMI data from the US and Europe. The US and Europe reported that PMI numbers were slightly higher this month but remained below 50, level that separates contraction from expansion. Broadly stronger US Dollar also weighted down on the commodity group.
Aluminum retreated on weak fundamentals. Slight increase in PMI figures failed to support the light metal.
Copper slid to almost one-week low on falling appetite for riskier assets amid dismal manufacturing and services PMI reports from Eurozone and China.
Nickel managed to post mild gain of 0.79% despite reports that world's crude steel production dropped by annualized 1% last month.
Zinc sank despite a 35% increase in cancelled warrants signaling on better spot market activity.