Copper surged on China's inflation, strike in Chile

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals soared on Tuesday on hopes that slower inflation in China will reduce pressure on the policymakers to tighten monetary policies further. At the same time, expectations of surplus on physical markets this year coupled with high LME inventories restricted an upward trend of base metals.

Aluminum gained on hopes for monetary policy loosening in China. However, expectations of an increase in global output put pressure on the lightweight metal. Deutsche Bank projects global aluminum production to rise 5.5% in 2013 to 50.3 million metric tonnes.

Copper jumped on positive headlines form China. Lifting prices, miners in Chile, the top world's producer, began a 24-hour strike to demand greater job security. However, the red metal's gains were limited as BHP Billiton is forecasting a surplus this and next year due to high stockpiles and growing production.

Zinc and Nickel finished in the positive area tracking global cues and high cancelled warrants ratio at the LME. Zinc also gained inspiration from a fall in LME inventories. LME stocks declined 5,550 tonnes on Monday after dropping 21,025 tonnes last week.
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