Nickel dropped amid bleak demand prospects

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Industry metals declined in a choppy session ahead of the FOMC meeting due on Wednesday. Moreover, weak imports data from China and spiking borrowing costs in Spain and Italy weighted on base metals.

Aluminum lost 0.68% amid strong greenback and global growth fears. However, Alcoa predicted stronger demand in the next quarters thus bolstering light metal's price.

Copper declined as recent 17.5% drop in China's copper imports continued to weight down on the red metal.

Nickel futures decreased on dismal demand prospects. Moreover, CaNickel Mining announced that it will continue to halt operations at Bucko Lake Nickel mine in view of low prices.

Zinc slumped as global manufacturing activity remained weak. At the same time, hopes for further easing in the Eurozone and China restricted losses of the metal.

 

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.