Indiustry metals showed vulnerability to Euro Zone's developments

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Source: Dukascopy Bank
Base metals ended the week mostly lower amid deteriorated investors' confidence on the uncertainty over the Greek bailout talks and weak demand from the main industry metals consumer, China. However, the downward movement was limited by the expected production cuts and positive headlines from the US. Firm equities also lent some support to the commodity group. Meanwhile, zinc faced the largest glut in about 20 years on the record high output and stockpiles. In the coming week, the industry metals are expected to remain bearish, with some correction due to the renewed talks on the Greek bailout.


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