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Industrial metals rally takes a breather on China worries

From financialpost.com

Most industrial metals fell on Tuesday as concerns over the property market in top consumer China and falls in aluminum and nickel prices from multi-year highs triggered profit taking. Benchmark copper on the London Metal Exchange was down 1.2% at $9,443.50 a tonne at 1422 GMT after having fallen 1.3% on Monday. “We are having a pause in the rally, led by some of the recent high fliers, aluminum and nickel,” said Saxo Bank analyst Ole Hansen. But he predicted that solid demand and tight supplies would push prices higher. “The overall sentiment towards metals is still very favorable,” he said. CHINA HOUSING: ... (full story)

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  • Category: Fundamental Analysis