Nickel rose despite weak demand

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Source: Dukascopy Bank SA
© Scanpix/Reuters
Base metals rallied on Wednesday as US real estate market data signaled that the world's top economy is recovering.  However, investors remained cautious ahead of China GDP data release due early on Thursday.

Aluminum was the best-performer, rebounding after previous losses on positive headlines from the US. However, the upswing was capped by persistent oversupply in the market.

Copper advanced on promising numbers from the US housing market and eased concerns over Spanish bailout.

Nickel rose despite subdued demand and elevated global inventory  levels.

Zinc moved in sync with copper and nickel, adding 1.24%. However, bleak demand prospects continued to weight on the metal.
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Thu, 18 Oct 2012 07:00:29 GMT

China shows signs of economic recovery after 7-quarter slowdown

China's retail sales, fixed-asset investment and industrial output accelerated in September, easing pressure to add stimulus in order to support nation's economy after a 7-quarter slowdown.  GDP rose 7.4% in the Q3 from the previous year, according to the National Bureau of Statistics.  The figure matched economists' forecast. GDP expanded 2.2% from the Q2, a 4-quarter high. 

Thu, 18 Oct 2012 07:31:27 GMT

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