Industrial metals were mixed on Friday on speculation that US, China and Eurozone will embark on growth-stimulus measures. An unexpected surge in the US durable goods orders last month also added to gains of the base metals. However, solid US Dollar capped the upswing of the commodity group.
Aluminum climbed as positive data flow from the US continued to lend support for the light metal. At the same time, elevated inventories as well as high global production levels limited the upward trend.
Copper dropped on news that production from Peru rose by annualized 9.40% in July. Moreover, strong US Dollar created additional pressure on the red metal.
Nickel was flat amid hopes for easing measures in China and persistent surplus in the market.
Zinc was top-performer despite weak spot demand and increasing supply from Asia.