Nickel jumps despite weak demand

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals were mixed on Friday amid global economic data releases. The trade balance in the Eurozone expanded more than expected last quarter, while US industrial production declined 0.1% last month compared to a forecast of 0.2% increase.

Aluminum continued its rally on hopes for stronger global demand. Norilsk Nickel expects the world's aluminum production to climb 2% to 4% this year, while Rusal predicts global consumption to grow 6% in 2013.

Copper swung to losses amid signs of weakening spot market activity and rising inventories at the LME. However, copper buying may increase when Chinese participants return from holiday.

Nickel moved higher despite feeble demand from stainless steel producers and firm US Dollar.

Zinc continued to descent after hitting a 17-month high on Wednesday. Elevated LME inventories and concerns over deepening recession in the Eurozone's pushed the metal lower.
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