Copper Rises to Record in London on Fed Speculation: LME Preview-Shanghai Metals Market

Hot Keywords

  • Silicon
  • Nickel
  • Futures movement
  • Zinc
  • Copper scrap
  • Aluminium
  • Evening comments
  • Macroeconomics
  • Inventory data
  • Copper
  • Production data
  • Market commentary
  • MMi Iron Ore Port Index
  • निकल
  • minutes of internal morning meetings

Copper Rises to Record in London on Fed Speculation: LME Preview

Industry News 09:40:53AM Dec 10, 2010 Source:SMM

Dec. 9 (Bloomberg) --Copper climbed to a record in London and advanced to a 31-month high in New York on speculation the Federal Reserve may extend asset purchases to support the economy.

-- Copper rose 0.6 percent at $9,072 a metric ton at
7:54 a.m. on the London Metal Exchange. Relative Strength Index
68.6.
-- Aluminum added 1.3 percent at $2,403 a ton. RSI 59.7.
-- Zinc fell 0.6 percent to $2,296.50 a ton. RSI 53.2.
-- Lead rose 1 percent to $2,430 a ton. RSI 55.9.
-- Nickel gained 1.3 percent to $24,301 a ton. RSI 62.1.
-- Tin rose 1.8 percent to $26,050 a ton. RSI 58.5.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   79.782          -0.3        2.5
Crude oil           $89.36           1.2       12.6
Gold                $1,389.95        0.6         27
MSCI World Index    1,253.49         0.6        7.3

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
ECB publishes Dec. monthly report                          9:00
U.K. BOE announces rates               0.5%       0.5%    12:00
U.S. initial jobless claims            425K       436K    13:30


 

Copper Rises to Record in London on Fed Speculation: LME Preview

Industry News 09:40:53AM Dec 10, 2010 Source:SMM

Dec. 9 (Bloomberg) --Copper climbed to a record in London and advanced to a 31-month high in New York on speculation the Federal Reserve may extend asset purchases to support the economy.

-- Copper rose 0.6 percent at $9,072 a metric ton at
7:54 a.m. on the London Metal Exchange. Relative Strength Index
68.6.
-- Aluminum added 1.3 percent at $2,403 a ton. RSI 59.7.
-- Zinc fell 0.6 percent to $2,296.50 a ton. RSI 53.2.
-- Lead rose 1 percent to $2,430 a ton. RSI 55.9.
-- Nickel gained 1.3 percent to $24,301 a ton. RSI 62.1.
-- Tin rose 1.8 percent to $26,050 a ton. RSI 58.5.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   79.782          -0.3        2.5
Crude oil           $89.36           1.2       12.6
Gold                $1,389.95        0.6         27
MSCI World Index    1,253.49         0.6        7.3

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
ECB publishes Dec. monthly report                          9:00
U.K. BOE announces rates               0.5%       0.5%    12:00
U.S. initial jobless claims            425K       436K    13:30