Base metals supported by Greek bailout dael

Note: This section contains information in English only.
Source: Dukascopy Bank
Industry metals soared on Tuesday after EU leaders finally agreed on the extended Greek bailout package. However, the gains were limited due to weak China's demand. Traders also await China's PMI data due on Wednesday. At the same time, copper, the main driver of the commodity group, may seek further support from falling LME inventories and production disruptions in Chile's Collahuasi copper mine. Copper's counterpart, aluminium, may also look for extra backup on falling global aluminium output. Nickel and zinc are likely to come under pressure due to high inventories and lack of appetite from the major consumers.


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Wed, 22 Feb 2012 17:26:15 GMT

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