Base metals were mixed on Friday ahead of China's PMI data

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Source: Dukascopy Bank
Industry metals were mixed on Friday with soaring nickel and copper and falling zinc and aluminium. Weaker US Dollar and firm European and US equities lent some support to the base metals pack. However, softer than expected German retail sales and Chicago PMI data limited the upswing. Traders also were cautious ahead of China's PMI data release that was due on Sunday. Aluminium was the top-loser, declining by 0.38% as the market is expected to face surplus for the sixth consecutive year. Copper and zinc were the strongest metals in the group despite high inventory level in China. Further, nickel was pressured by increased supply from Philippines and Indonesia.
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