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Mixed Fundamentals Lead to Mixed Performance of Industrial Metals

August 28, 2014 at 1:47 by Vladimir Vyun

Fundamentals were somewhat mixed for industrial metals lately, making various industrial metals perform differently. Copper, nickel and tin fell in London. Meanwhile, aluminum and zinc advanced.

Industrial metals strongly depend on an outlook for global economic growth. Yet economies were faring differently in different parts of the world. The most noticeable discrepancy was between economies of the United States and Europe. While the US economy continuously shows signs of improvement, economies of the European Union struggle, even the European powerhouse that is Germany.

Contract for delivery in three months fell 0.34 percent to settle at $7,030 per metric ton on LME. Nickel declined 0.5 percent to $18,850 per ton. Tin slumped 1.23 percent to $21,735 per ton. Aluminum advanced 0.12 percent to close at 2,085.50 per ton. Zinc went up 0.08 percent to $2,360 per ton.

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