Zinc fell as spot market activity remained weak

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

Industrial metals tumbled on Wednesday on signs that US manufacturing activity continued to deteriorate this month. Adding pressure on the base metals, Eurozone's data showed that region's GDP shank 0.8% last month.

Aluminum dropped on global growth fears. However, slightly better industrial production data from the US limited the downward trend of the light metal.

Copper retreated amid buildup in inventories at Shanghai and Comex warehouses. However, reports that global copper market was in deficit in the first half of the year supported the red metal.

Nickel was the worst performer as global markets continued to remain in surplus. Weak manufacturing activity across the world also weighted down on the metal.

Zinc declined amid soft spot market activity and risk-off market sentiment. At the same time, hopes for easing in the US, Eurozone and China provided slight support for the base metal.

 

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