Industrial metals rebounded from two negative sessions as European and U.S. economic news countered concerns about the prospect of monetary tightening in China. In London, copper rallied 1.1%, aluminium 0.5%, lead 0.1%, nickel 1.9% and tin 2.5%. Zinc slipped 0.4%.
"Recent data showed the Chinese story is looking very good," a Citi analyst told Reuters. "With the tightening to date you could expect Chinese growth will slow a little bit further in the coming months, perhaps to 9.5%, but combined with data in the U.S. that continues to pick up and strong numbers out of Germany, the outlook [for metals] is pretty good."
SDL Price at posting:
48.5¢ Sentiment: Hold Disclosure: Held
