Industry metals tumbled on Tuesday on weak China's demand

Note: This section contains information in English only.
Source: Dukascopy Bank
Base metals slumped on Tuesday on the strengthening US Dollar and weaker equities. The commodity pack losses were also sparked by BHP Billion report that indicated sharp fall in China's ore and steel demand. Moreover, cut in the Australia's growth outlook pulled the industry metals down. Aluminium is likely to face downward move in the nearest future as China's demand slows. However, growing energy prices may create light stimulus for the metal. At the same time, copper may catch momentum on the improved housing market in the US and more optimistic Euro Zone outlook. Zinc remains potentially weak metal because of elevated inventory levels. Meanwhile, nickel was unchanged over the day but is expected to weaken on the cut in China and Australia growth forecast.


Back to articles

Actual Topics

Wed, 21 Mar 2012 12:26:12 GMT

UK budget shortfall doubled in February

British budget gap nearly doubled in February on improved spending and drop in taxes, the Office for National Statistics reported on Wednesday. The net borrowing eliminating support for lenders reached GBP 15.2 billion compared to a GBP 8.9 billion a year ago. The analysts questioned by Bloomberg earlier predicted a deficit of around GBP 8 billion. 

Wed, 21 Mar 2012 12:55:25 GMT

Precious metals fell on Tuesday amid recovering US economy

Precious metals tumbled on Tuesday amid broadly stronger US Dollar and improving US economic outlook. The commodity group was also pressured by the increase in the 10-year US Treasury yields that signal on recovering US economy. However, soaring energy prices continued to weight up on the inflation rate thus increasing appeal of the traditional inflationary hedges such as precious metals.

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.