Base metals apart from zinc advanced on Thursday, following Mario Draghi comments that the ECB may start bond-purchasing from troubled eurozone countries to ease debt pressure in the region. However, slight increase in the US unemployment claims and continuous China growth concerns capped the upswing.
Aluminum moved higher on lower LME inventories. Stocks at the LME-monitored warehouses fell by 8,755 MT on Thursday.
Copper climbed on supply concerns from Newmont Mining. Newmont Mining cut its production forecast for 2011 thus the company may face difficulties with workers due to lower output levels.
Nickel was the top-gainer despite potential increase in global surplus. Nickel surplus is expected to rise to the record level as supply from China's new mining projects exceeds demand from the world top-consumer.
Zinc dropped further as inventories at the LME warehouses continued to rise.