Nickel slid on oversupply worries

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Source: Dukascopy Bank SA
Industry metals fell on Wednesday as economic instability in the Euro Zone remained the main threat to global expansion.

Aluminum declined as many producers started to close down smelters because of low prices.

Copper approached more than four-month low after the EU leaders agreed that each member has to get prepared for possible Greece's exit from the Euro Zone.

Nickel extended previous losses as supply is likely to outplace demand in the next five years, according to the Economic Research Center of China.

Zinc also followed bearish trend due to elevating inventories and soft demand.


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Thu, 24 May 2012 17:48:48 GMT

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