Base metals mixed after inspiring US data on Thursday

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Source: Dukascopy Bank
Industry metals were mixed on Thursday, being pressured by the US Dollar strength and disappointing Euro Zone consumer confidence data. Uncertainty over China's demand also continued to dampen market sentiment.  However, positive headlines about the US labour market and consumer income limited the losses of the base metals pack. Aluminium remained potentially weak because of expected oversupply in the market and stockpiling at the Shanghai Futures Exchange warehouses. Copper also continued to face growing inventories in China but the red metal's supply is likely to stay tough. Zinc was the top-performer despite weak spot market activity while nickel tumbled as manufacturers started to prefer to deal directly with producers.


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