Base metals except for copper surged on Wednesday after the Fed announced it is likely to embark on stimulus measures in the nearest future. Easing concerns over the Eurozone's debt crisis also boosted the industrial metals.
Aluminum rose on hopes for easing in the US. However, elevated inventory levels as well as weak investors' confidence weighted down on the light metal.
Copper was flat, balancing between potential increase in demand and rising global supplies. Copper output from Peru jumped by annualized 9.40% in Q2.
Nickel was the top-gainer amid building expectations for easing in the US and China. Meanwhile, nickel market continued to remain in surplus, thus restricting the metal's rally.
Zinc moved higher amid weak US Dollar and stimulus speculation. However, weak spot demand coupled with increasing production in Peru created heavy pressure on the industrial metal.