Base metals prices increased following the release of positive manufacturing data from key economic regions. The data indicated a potential rebound in industrial activity, leading to increased demand expectations for these essential materials.

Factors Driving the Price Increase

• Strong Manufacturing Data: Reports from major economies showed improvements in manufacturing output and new orders.
• Increased Demand Forecasts: Analysts revised their demand forecasts upward, anticipating higher consumption of base metals in various industries.
• Supply Concerns: Lingering concerns about supply disruptions in certain regions also contributed to the price surge.

Impact on Specific Metals

The price increases were observed across a range of base metals, including:

• Copper: Used extensively in construction and electronics, copper prices reacted strongly to the positive data.
• Aluminum: Demand for aluminum, vital in transportation and packaging, also saw a boost.
• Zinc: Zinc prices rose due to its use in galvanizing steel and other industrial applications.

Market analysts suggest that the upward trend may continue if the positive economic data persists. However, they caution that potential trade tensions and geopolitical risks could introduce volatility into the market.