Base metals fluctuated on G20 meeting and US data

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Source: Dukascopy Bank
Industry metals were little changed on Monday as market was balancing between disappointing news from the G20 meeting and inspiring hosing data from the US. Moreover, investors mainly look on the China's demand that showed mostly negative signs due to growing inventories. Mixed equities also added to the volatility of the base metals pack. Alunimium futures may be backed up by the firm spot demand while copper can seek support from the supply concerns as Grasberg mine halted its operations due to strike. Nickel is likely to fall further due to poor infrastructure demand. Meanwhile, zinc was the top performer but it still remained the weakest metal in the group with record high inventories at the LME warehouses.


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