Industrial metals retreated on Monday after disappointing Japanese data. Japan's GDP rose less than expected in Q2, thus denting demand prospects for the base metals. At the same time, global easing speculation continued to lend support for the commodity group.
Aluminum prices decreased after dismal Japanese and Chinese data. Meanwhile, hopes for easing in Asia limited losses of the light metal.
Copper moved lower on global growth concerns. Sending the red metal lower, inventories increased at Shanghai and Comex exchanges.
Nickel edged down on persistent surplus in the market. However, bargain buying opportunities may spur the metal's price in the next sessions.
Zinc slumped amid weak demand as zinc warrants at LME dropped along with inventories. Recent, dismal data from China continued to create pressure on zinc prices.