Commodities » Industrial Metals

Industrial metals (copper, aluminium, nickel, etc.) daily review (August 19, 2010)

Contributed by Nirmal Bang

By Nirmal Bang

MARKET ROUNDUP

Industrial metals prices ended higher yesterday, with support from positive sentiment in U.S. equity markets and steady outflows of the metals from London warehouses keeping prices near one-week highs.

IN FOCUS

- The global aluminum market was in surplus by 314,000 metric tons in the first six months of 2010, the World Bureau of Metal Statistics said Wednesday.

- The global refined zinc market was in a 266,000-metric-ton surplus in January to June, the World Bureau of Metal Statistics said Wednesday.

- The global lead market was in a 57,400- metric-ton surplus in January to June, the World Bureau of Metal Statistics said Wednesday

- The world nickel market was in a 19,000-metric-ton deficit between January and June this year compared with a surplus in the same period last year, the World Bureau of Metal Statistics said Wednesday.

- The global copper market was in deficit by 80,000 metric tons in the first six months of 2010, the World Bureau of Metal Statistics said Wednesday

FUNDAMENTAL OUTLOOK

Industrial metals prices are trading a tad lower on international bourses. We expect a bounce back in the prices of industrial metals on account of continuously declining LME warehouse stocks and rise in cancelled warrants which indicate that the physical interest in metals is still strong.