Base metals took a break after tumble on Friday

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Source: Dukascopy Bank
Industry metals moved higher on Friday amid firmer equities and softer US Dollar. The commodity group took a break in its tumble caused by pessimistic manufacturing data releases from the Euro Zone and China. Moreover, lower risk-aversion after the ECB increased its bong purchases from peripheral countries of the Euro Zone added to gains of the base metals pack. Aluminium was only marginally higher as disappointing US real estate market data limited the upward move of the light metal. Copper ended last week with the positive tone due to strong spot demand while zinc followed copper's suit despite high LME inventories. Nickel was the only loser amid deteriorating housing markets worldwide.


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