Copper Advances in London on Manufacturing Growth in China: LME Preview-Shanghai Metals Market

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Copper Advances in London on Manufacturing Growth in China: LME Preview

Industry News 09:38:54AM Dec 02, 2010 Source:SMM

Dec 1 (Bloomberg) --  Copper rose in London as faster-than- expected manufacturing growth in China and increasing U.S. consumer confidence boosted the outlook for the global economy.

-- Copper rose $65, or 0.8 percent, to $8,425 a metric ton at 7:35 a.m. on the London Metal Exchange. Relative Strength Index 52.5.
-- Aluminum gained 0.7 percent to $2,291 a ton. RSI 45.4.
-- Zinc jumped 1.6 percent to $2,145 a ton. RSI 42.4.
-- Lead rose 1.8 percent to $2,270 a ton. RSI 44.8.
-- Nickel gained 0.5 percent to $23,175 a ton. RSI 53.5.
-- Tin rose 1.2 percent to $24,800 a ton. RSI 47.0.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   81.024          -0.2        4.1
Crude oil           $84.45           0.4        6.4
Gold                $1,391.5         0.4       26.8
MSCI World Index    1,195.3          0.2        2.3

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
EC PMI manufacturing                  55.5       55.5      9:00
U.S. ISM manufacturing                56.5       56.9     15:00
Fed’s Beige Book                                          19:00

 
 

 

Copper Advances in London on Manufacturing Growth in China: LME Preview

Industry News 09:38:54AM Dec 02, 2010 Source:SMM

Dec 1 (Bloomberg) --  Copper rose in London as faster-than- expected manufacturing growth in China and increasing U.S. consumer confidence boosted the outlook for the global economy.

-- Copper rose $65, or 0.8 percent, to $8,425 a metric ton at 7:35 a.m. on the London Metal Exchange. Relative Strength Index 52.5.
-- Aluminum gained 0.7 percent to $2,291 a ton. RSI 45.4.
-- Zinc jumped 1.6 percent to $2,145 a ton. RSI 42.4.
-- Lead rose 1.8 percent to $2,270 a ton. RSI 44.8.
-- Nickel gained 0.5 percent to $23,175 a ton. RSI 53.5.
-- Tin rose 1.2 percent to $24,800 a ton. RSI 47.0.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   81.024          -0.2        4.1
Crude oil           $84.45           0.4        6.4
Gold                $1,391.5         0.4       26.8
MSCI World Index    1,195.3          0.2        2.3

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
EC PMI manufacturing                  55.5       55.5      9:00
U.S. ISM manufacturing                56.5       56.9     15:00
Fed’s Beige Book                                          19:00