Copper climbs despite weak EU data

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Source: Dukascopy Bank SA
Industrial metals moved higher on Friday as market sentiment improved amid hopes the Fed will continue its growth-boosting measures. However, the upside remained limited after the ECB sharply cut its outlook on the region's economy on Thursday. Meanwhile, dismal industrial production figures in Europe added pressure on base metals.

Aluminum inched up despite signs of weakening demand in China.  The country's aluminum consumption climbed only 5.8% in the first nine months, down 5% from the same period in 2011.

Copper was the top-gainer, jumping 0.44% on hopes that the Fed will stick to its easy policies.

Nickel rose after a sharp fall on Thursday, tracking an increase in cancelled warrants ratio at LME. At the same time, a surplus on physical markets continued to pressurize the metal's prices.

Zinc edged up, balancing between better spot market activity and oversupply on the physical markets.


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