Industry metals moved higher on Monday on prospects of easing in the US

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Source: Dukascopy Bank
Industry metals except for nickel advanced on Monday after Fed reported it would maintain the current monetary policy in view of weak job market. Broadly lower US Dollar added to the positive mood of the commodity pack. Meanwhile, improved German Ifo business climate index also lent support to the upward trend of base metals. Copper was the top-performer as the red metal managed to catch momentum after news on the earthquake in Chile on Sunday. Aluminium faced limited growth as output is expected to outplace demand for the sixth consecutive year. Zinc was pressured by weak spot demand while nickel, the only loser, tumbled on the bleak outlook on China's manufacturing activity.


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