Zinc moves higher ahead of China's data

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals advanced on Thursday despite an unexpected contraction of manufacturing activity in Philadelphia region. Base metals complex found support on better-than-expected numbers from the US job and housing market. Meanwhile, market players continued to anticipate Chinese data releases due on Friday.

Aluminum climbed, tracking gains of the US equities. However, the upswing was limited by bloated LME inventories. LME stocks remained near a record high of 5.24 million tonnes despite a Wednesday's fall of 3,275 tonnes.

Copper soared on hopes that China's data will come better-than-expected. However, dismal manufacturing figures from Philadelphia region as well as a recent drop in China's copper imports put pressure on the red metal's prices.

Nickel and Zinc finished the session in the green territory, following copper's upward trend. Capping gains, LME stocks remained at elevated levels and physical markets continued to witness surplus. Meanwhile, the metals may find support on hopes for positive numbers from China due on Friday.


Back to articles

Actual Topics

Fri, 18 Jan 2013 09:35:04 GMT

Heating oil jumps on upbeat US data, weaker greenback

Energy futures were bullish on Thursday on positive US housing and employment data. US jobless claims dropped more than expected last week while housing starts soared by 12.1% in December, beating forecasts of a 4.6% increase. Crude oil continued to gain inspiration from falling US inventories. The EIA reported on Wednesday that US stockpiles dropped by 0.9 million barrels compared

Fri, 18 Jan 2013 08:51:05 GMT

Palladium extends rally on bright demand outlook

Precious metals jumped for the fourth session in a row amid broadly softer US Dollar and weak manufacturing data from the US. Philadelphia region's manufacturing activity unexpectedly contracted in January, boosting hopes for additional stimulus from the Fed. However, upbeat data from the US labour and housing market limited gains of the commodity group.Gold climbed, being supported by weaker US

Subscribe to "Fundamental Analysis" feed

Suscribir
Para conocer más sobre la plataforma de Trading de CFD y Forex de Dukascopy Bank, SWFX y otras informaciones relacionadas con el Trading,
llámenos o haga una solicitud de devolución de llamada.
Para obtener más información sobre la posible cooperación, por favor llámenos o haga una solicitud de devolución de llamada.
Para obtener más información sobre las opciones binarias de Dukascopy Bank / La plataforma de operaciones de Forex, SWFX y otra información relacionada con el Trading, por favor llámenos o solicite una devolución de llamada.
Para conocer más sobre la plataforma de Trading de CFD y Forex de Dukascopy Bank, SWFX y otras informaciones relacionadas con el Trading,
llámenos o haga una solicitud de devolución de llamada.
Para obtener más información acerca de la plataforma de operaciones Crypto Trading / CFD / Forex, SWFX y otra información relacionada con el comercio,
llámenos o realice una solicitud de devolución de llamada.
Para obtener más información sobre Business Introducer y otra información relacionada con el comercio,
llámenos o realice una solicitud de devolución de llamada.
Para obtener más información sobre la posible cooperación, por favor llámenos o haga una solicitud de devolución de llamada.