Nickel plunges as LME inventories hit all-time high

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals were bearish on Wednesday as China's trade data disappointed investors. China's trade balance unexpectedly swung to deficit of USD884 million last month while experts predicted a USD15.4 million surplus.

Aluminum retreated on dismal trade numbers from China. The metal also came under heavy selling pressure after Deutsche Bank predicted global production to increase 5.5% this year. Meanwhile, market players remained cautious ahead of Chinese new loans data due on Thursday.

Copper slumped on weak China's figures and strong greenback. At the same time, the metal may seek support from a rebound in China's copper's imports in March. Moreover, cancelled warrants at the LME rose 3.4% to 156,975 tonnes, indicating strong spot demand.

Nickel tumbled on elevated LME inventories. Nickel stocks approached all-time high of 167,700 tonnes on Tuesday. Also pressurizing the metal, experts predict a 33,500-tonne surplus this year amid weak demand from stainless steel producers.

Zinc slid tracking weakness of the commodity sector. However, losses were limited by a decline in LME inventories and an increase in cancelled warrants.
Back to articles

Actual Topics

Thu, 11 Apr 2013 08:52:59 GMT

Dow hits another high on Wednesday

U.S. stocks extended their gains on Wednesday, hitting record highs as Federal Reserve officials debated over slowing asset purchases amid improving labour market. The Dow Jones Industrial Average advanced 0.9%, or 128.78 points, to 14,802.24 with a turnover of 6.2 billion shares. All nine industry groups advanced with technology and health care group rallying the most. Merck & Co Inc.

Thu, 11 Apr 2013 08:41:34 GMT

Platinum drops on FOMC minutes, stronger greenback

Precious metals retreated on Wednesday as market players continued to reduce holdings of the metals on talks the Fed may scale back its easing measures amid accelerating economic recovery. According to the latest FOMC minutes, board members were divided on when to wind down stimulus. Gold was the worst performer amid broadly stronger U.S. Dollar and concerns the Fed may halt

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.