Base metals balance between China imports and LME cancelled warrants

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Source: Dukascopy Bank
Industrial metals advanced on Monday amid eased EU debt worries and inspiring base metals imports in China. However, Barclays projects fall in the China metals imports, especially copper, in Q1 of 2012 due saturation in the market. Nickel was the only loser amid the buildup of the LME inventory and weak cancelled warrants. Zinc, the top performer, soared 2.3% despite inventory stockpiling and decrease in the warrants, reflecting weakening demand for the commodity. The metal found support on the better than expected US data coupled with expected increase in the automobile demand from NAFTA.


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