Commodities » Industrial Metals

Industrial metals (copper, aluminium, nickel, etc.) daily review (December 01, 2009)

Contributed by Nirmal Bang

By Nirmal Bang

MARKET ROUNDUP

- Industrial metals surged late on Monday after the release of better-than-expected regional manufacturing number. Weakness in the greenback also lent some support to this complex. Zinc was the biggest gainer for the day, rising by over 3.5 percent on LME.

IN FOCUS

- Mexican copper output fell to 20,589 tonnes in September, down 12.9 percent from the same month a year earlier, the government said on Monday.

- Output of copper in Chile, the world's No.1 producer rose 9.8 percent in October from the same month last year, the government said on Monday.

- In the first 10 months of the year, copper production was barely changed from a year earlier at 4.439 million tonnes. Molybdenum production in October jumped 11.9 percent to 3,214 tonnes and rose 6.3 percent in the 10-month period to 29,236 tonnes.

FUNDAMENTAL OUTLOOK

- Industrial metals ended in the positive territory yesterday broadly on better-than-expected Chicago PMI coupled with weaker dollar. Today the focus would be on ISM manufacturing data scheduled to be released later in the day. Industrial metals may trade higher on any positive surprise in this economic data.