Industrial metals rose on Monday on improved risk-sentiment after Angela Merkel agreed on the ECB bond-buying program. Moreover, recent PBOC pledge to fine-tune monetary policy in H2 pushed base metals higher.
Aluminum gained amid optimism over the Eurozone. However, elevating inventories and weakening spot market activity restricted the upswing.
Copper moved higher on speculation that the Fed may provide additional stimulus for the economy .
Nickel climbed on easing hopes and better spot demand. However, gains were capped as nickel market continues to remain in surplus.
Zinc inched up as inventories declined from record high levels. Moreover, lower risk-aversion among market players also sent zinc prices higher.