Nickel falls on global supply glut

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals extended previous losses as euphoria over the US fiscal deal waned. Investors turned to safe-haven assets after the Fed hinted it may end its bond-buying program. Limiting the downswing, weak employment numbers in the US are likely to force the Fed to continue its stimulus measures.

Aluminum plunged amid heavy pressure from firm greenback and bloated stockpiles at the LME. LME stocks added 2,150 tonnes on Thursday to remain near a record high of 5.24 million tonnes.

Copper sagged 0.97%, tracking strength of the US Dollar and concerns over looming US dispute on the country's debt limit. Meanwhile, copper inventories at LME dropped by 500 tonnes on Thursday from an one-year high on Wednesday.

Nickel dropped, following a surplus on the physical markets. High LME stocks and uncertainty whether the Fed will continue its asset-buying program also weighed on the metal.

Zinc sank amid overall weakness of the commodity sector and oversupply on the physical markets. International Lead and Zinc Study Group reported the global zinc surplus attained 157,000 tonnes in the first ten months of 2012.


Back to articles

Actual Topics

Mon, 07 Jan 2013 09:52:03 GMT

Natural gas rallies after EIA inventory report

Energy futures were mixed on Friday after the EIA weekly stockpiles report indicated larger-than-expected withdrawal last week. Energy prices also received a boost from hopes that dismal US job market data will result in continuation of the Fed's easing. However, mild weather forecasts as well as strong US Dollar continued to create heavy pressure on the commodity group. Crude oil

Mon, 07 Jan 2013 09:08:12 GMT

Platinum pared losses after weak US jobs data

Precious metals except for silver moved lower on Friday amid broadly stronger US Dollar. However, precious metals trimmed losses after weak US employment data suggested that despite recent comments the Fed is likely to stick to its loose monetary policy. On Thursday,  the Fed announced it may end its bond-purchasing plan this year.Gold ended the week in the red territory

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.