Industrial metals except for copper posted sharp gains on news that the US PPI rose last month. Market participants awaited the Fed decision on whether to loosen its monetary policy further that was due on Thursday after the end of LME trading session.
Aluminum climbed on lower inventory levels at the LME warehouses and hopes that the Fed will announce stimulus measures. Taken that the Fed finally embarked on monetary stimulus the light metal is likely to spike during Friday's session.
Copper was the only-loser as investors cashed out from the market after previous session's rally. However, the Fed decision to start QE3 is likely to support the red metal in the next sessions.
Nickel rose despite continuous supply glut in the market. The metal found support on hopes for easing in Japan and China.
Zinc was the top-gainer ahead of the FOMC statement. On Friday, the metal may open higher due to long-awaited easing measures from the Fed.