Isra-Mart srl: Industrial metals (copper, aluminium, nickel, etc.) daily review

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MARKET ROUNDUP

Industrial metals pushed higher for a fourth straight day on Monday after a promise from German and French leaders to resolve the European debt crisis dented the dollar's safehaven appeal and ignited a broad-based risk rally.

IN FOCUS
- Democratic Republic of Congo's Katanga province is expected to produce 500,000 tonnes of copper this year, up 13 percent from 2010 despite power cuts that may threaten future investment and output in the mining sector, a government official said.

- More than 500 Zambian workers at Sino Metals copper processing plant went on strike on Friday for higher wages, in the latest industrial action to hit Africa's top copper producer, just two weeks after its new president took office on the promise of improving conditions at Chineseowned mines.

- The Philippines' top nickel producer Nickel Asia Corp said on Friday its nickel ore sales volume in January to September rose 43 percent from a year earlier on higher prices and strong demand from China.

FUNDAMENTAL OUTLOOK
Industrial metals are trading lower on International bourses today. We expect prices to trade higher on account of strong equity market across the globe and a weaker dollar.