Zinc slid despite brighter demand outlook

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals were bearish on Monday amid weak appetite for growth sensitive assets. The risk sentiment remained weak after the data last week showed the Eurozone's and Japan's economies performed worse than expected in the last quarter of 2012.

Aluminum retreated from a six-week high on concerns that Chinese investors who returned after holidays will start selling the lightweight metal. Furthermore, elevated LME inventories and bleak growth outlook added pressure on the metal.

Copper declined on rising global output. Antamina, the world's eighth largest copper mine, plans to keep high output level of 450,000 tonnes this year. However, the red metal may seek support from hopes of stronger China's demand.

 Nickel dipped on weak demand from stainless steel producers and global growth fears. High LME stockpiles also continued to push the metal lower.

Zinc sagged 0.92% despite forecasts that the US consumption may grow 3% this year amid recovery of the housing market. Moreover, signs of rising investment demand and hopes for the improvement in China's consumption may be supportive for the base metal.
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