Copper Climbs to Record on China’s Demand Outlook: LME Preview -Shanghai Metals Market

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Copper Climbs to Record on China’s Demand Outlook: LME Preview

Industry News 09:48:08AM Dec 14, 2010 Source:SMM

Dec. 13 (Bloomberg) -- Copper climbed to a record in London after China refrained from raising borrowing costs over the weekend, signaling increased demand from the world’s largest consumer of the metal.

-- Copper climbed $119.50, or 1.3 percent, to $9,109.50 a metric ton at 7:07 a.m. on the London Metal Exchange. Relative Strength
Index 68.
-- Aluminum rose 1.3 percent to $2,339 a ton. RSI 52.
-- Zinc added 2.5 percent to $2,331 a ton. RSI 55.
-- Lead gained 1 percent to $2,440 a ton. RSI 57.
-- Nickel advanced 0.9 percent to $24,205 a ton. RSI 60.
-- Tin added 1 percent to $26,050 a ton. RSI 58.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   80.266             0.2       3.1
Crude oil           $88.14             0.4      11.1
Gold                $1,387.40          0.1      26
MSCI World Index    1,257.16           0.1       7.6

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)

U.K. PPI                             0.5%        2.1%      9:30

 

 


 

Copper Climbs to Record on China’s Demand Outlook: LME Preview

Industry News 09:48:08AM Dec 14, 2010 Source:SMM

Dec. 13 (Bloomberg) -- Copper climbed to a record in London after China refrained from raising borrowing costs over the weekend, signaling increased demand from the world’s largest consumer of the metal.

-- Copper climbed $119.50, or 1.3 percent, to $9,109.50 a metric ton at 7:07 a.m. on the London Metal Exchange. Relative Strength
Index 68.
-- Aluminum rose 1.3 percent to $2,339 a ton. RSI 52.
-- Zinc added 2.5 percent to $2,331 a ton. RSI 55.
-- Lead gained 1 percent to $2,440 a ton. RSI 57.
-- Nickel advanced 0.9 percent to $24,205 a ton. RSI 60.
-- Tin added 1 percent to $26,050 a ton. RSI 58.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   80.266             0.2       3.1
Crude oil           $88.14             0.4      11.1
Gold                $1,387.40          0.1      26
MSCI World Index    1,257.16           0.1       7.6

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)

U.K. PPI                             0.5%        2.1%      9:30