Copper Advances in London as Global Manufacturing Expands: LME Preview-Shanghai Metals Market

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Copper Advances in London as Global Manufacturing Expands: LME Preview

Industry News 09:25:40AM Dec 03, 2010 Source:SMM

December 2 (Bloomberg) -- 
Copper rose in London after manufacturing expanded in China, the U.S. and Europe, adding to signs of a revival in demand.

-- Copper rose $123, or 1.4 percent, to $8,708 a metric ton at 7:47 a.m. on the London Metal Exchange. Relative Strength Index 60.1.
-- Aluminum gained 1.6 percent to $2,377 a ton. RSI 56.3.
-- Zinc jumped 3 percent to $2,224 a ton. RSI 48.
-- Lead rose 2.2 percent to $2,319.50 a ton. RSI 48.5.
-- Nickel gained 0.4 percent to $23,640 a ton. RSI 57.4.
-- Tin rose 1.4 percent to $25,150 a ton. RSI 50.6.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   80.553          -0.2        3.5
Crude oil           $86.96           0.2        9.6
Gold                $1,393.65        0.4        27
MSCI World Index    1,222.2          0.5        4.6

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
Euro-zone GDP (QoQ)                   0.4%       0.4%     10:00
ECB announces interest rates         1.00%      1.00%     12:45
U.S. initial jobless claims           424K       407K     13:30
U.S. pending home sales (MoM)        -1.0%      -1.8%     15:00

 

Copper Advances in London as Global Manufacturing Expands: LME Preview

Industry News 09:25:40AM Dec 03, 2010 Source:SMM

December 2 (Bloomberg) -- 
Copper rose in London after manufacturing expanded in China, the U.S. and Europe, adding to signs of a revival in demand.

-- Copper rose $123, or 1.4 percent, to $8,708 a metric ton at 7:47 a.m. on the London Metal Exchange. Relative Strength Index 60.1.
-- Aluminum gained 1.6 percent to $2,377 a ton. RSI 56.3.
-- Zinc jumped 3 percent to $2,224 a ton. RSI 48.
-- Lead rose 2.2 percent to $2,319.50 a ton. RSI 48.5.
-- Nickel gained 0.4 percent to $23,640 a ton. RSI 57.4.
-- Tin rose 1.4 percent to $25,150 a ton. RSI 50.6.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   80.553          -0.2        3.5
Crude oil           $86.96           0.2        9.6
Gold                $1,393.65        0.4        27
MSCI World Index    1,222.2          0.5        4.6

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
Euro-zone GDP (QoQ)                   0.4%       0.4%     10:00
ECB announces interest rates         1.00%      1.00%     12:45
U.S. initial jobless claims           424K       407K     13:30
U.S. pending home sales (MoM)        -1.0%      -1.8%     15:00