Zinc declined amid weak fundamentals

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Source: Dukascopy Bank
Industry metals moved down on Monday after China cut its RRR, signaling that the country's economy needs additional stimulus to expand. Weaker than expected Euro Zone's industry data also weighed on the commodity pack.

Aluminum lost almost 1%, being pressured by global financial instability. However, the downswing was limited as Tajikistan's Aluminum reported a 11.6% fall in output.

Copper attained four-month low amid massive selloff of riskier assets in view of political turmoil in Greece.

Nickel lost support from the expected supply disruptions from New Caledonia and followed common bearish trend of the commodity group.

Zinc continued falling as weak fundamentals and recent increase in Peru's production added to the negative mood of the metal.


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Tue, 15 May 2012 11:27:23 GMT

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