Industry Metals

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Source: Dukascopy Bank
© Dukascopy Bank
Base metals advanced on Monday amid broadly weaker US Dollar and growing energy prices. The industry metals pack continued to balance between the positive headlines from the US and signs of stagnation in China's economy. However, improving situation in the Euro Zone after the Euro Zone leaders agreed on the second Greek bailout package continued to push the growth-sensitive commodities up. Meanwhile, copper caught momentum on the falling LME inventories and improved spot demand. Aluminium rose by 0.75% amid growing China's oil prices that may increase cost of domestic metal's smelting. Other base metals mostly followed copper's suit but continued to face high inventory levels at the LME warehouses.

Interdependence between aluminium and other industry metals tumbled essentially along with mixed signals from the US, China and the Euro Zone. At the same time, aluminium's correspondence with the Dow Jones-UBS Energy Index declined from 0.52 to 0.48 on the persistent geopolitical tensions. Further, correlation between aluminium's EUR/JPY eased down from 0.52 to 0.50 on the more positive outlook on the Euro Zone.


© Dukascopy Bank
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Actual Topics

Tue, 20 Mar 2012 18:44:27 GMT

Energy

Energy commodities were mixed on Monday amid depreciating US Dollar and lingering supply disruption concerns. Brent and crude oil continued to be exposed to the key macroeconomic data from the US and China. Fed announcement that the US economy still faces challenges on its way to recovery created downward pressure on the commodity group. At the same time, escalated geopolitical

Tue, 20 Mar 2012 18:44:07 GMT

Precious Metals

Precious metals eased up on Monday on the weaker US Dollar and mixed equities. Moreover, the commodity group gained a spree as Fed is still undecided on whether to embark on the next round of quantitative easing. However, the easing measures are not highly likely taken the steady recovery of the US economy. Gold was the driver for the group

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