Industry metals rose on Monday on weaker US Dollar

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Source: Dukascopy Bank
Base metals advanced on Monday amid broadly weaker US Dollar and growing energy prices. The industry metals pack continued to balance between the positive headlines from the US and signs of stagnation in China's economy. However, improving situation in the Euro Zone after the Euro Zone leaders agreed on the second Greek bailout package continued to push the growth-sensitive commodities up. Meanwhile, copper caught momentum on the falling LME inventories and improved spot demand. Aluminium rose by 0.75% amid growing China's oil prices that may increase cost of domestic metal's smelting. Other base metals mostly followed copper's suit but continued to face high inventory levels at the LME warehouses.


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