Zinc sank on stronger US Dollar

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals except for nickel retreated on Friday on global growth concerns. Persistent uncertainty over Greek bailout as well as escalated tensions in the Middle East dampened demand for riskier assets. Meanwhile, traders remained cautious ahead of the Japanese monetary statement due on Tuesday.

Aluminum shed 0.66% as support from increased demand from China appeared to be short-lived. Moreover, aluminum surplus nears 400,000 tonnes thus weighting on the light metal's price.

Copper dropped as China has not yet provided a clear indications of a restart of metals' stockpiling.

Nickel was the only gainer amid better spot market activity. However, solid US Dollar limited the upswing.

Zinc was the top-loser on weak signals from the eurozone and US. However, the metal may seek support on a potential rebound in China's demand as the country's state has recently approved more than 60 infrastructural projects.


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