Copper Advances to a Record on Deficit Speculation: LME Preview-Shanghai Metals Market

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Copper Advances to a Record on Deficit Speculation: LME Preview

Industry News 09:49:03AM Dec 15, 2010 Source:SMM

Dec. 14 (Bloomberg) --Copper climbed to a record in London on speculation demand will outpace supply as the global economy extends a recovery, and as investors sought alternatives to a weakening U.S. dollar.

-- Copper gained $15, or 0.2 percent, to $9,240 a metric ton at
8:26 a.m. on the London Metal Exchange. Relative Strength Index
71.
-- Aluminum gained 1.2 percent to $2,358 a ton. RSI 53.9.
-- Zinc rose 1.2 percent to $2,350 a ton. RSI 56.6.
-- Lead advanced 1.1 percent at $2,466.75 a ton. RSI 58.7.
-- Nickel gained 1.5 percent to $24,899 a ton. RSI 65.4.
-- Tin rose 1.1 percent to $26,448 a ton. RSI 62.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   79.095          -0.2        1.6
Crude oil           $88.71           0.1       11.8
Gold                $1,405.28        0.8         28
MSCI World Index    1,267.92         0.2        8.5

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
Germany ZEW Survey                    3.9         1.8     10:00
U.S. advance retail sales             0.6%        1.2%    13:30
U.S. business inventories             1.0%        0.9%    15:00
U.S. FOMC rate decision               0.25%       0.25%   19:15

 

 


 

Copper Advances to a Record on Deficit Speculation: LME Preview

Industry News 09:49:03AM Dec 15, 2010 Source:SMM

Dec. 14 (Bloomberg) --Copper climbed to a record in London on speculation demand will outpace supply as the global economy extends a recovery, and as investors sought alternatives to a weakening U.S. dollar.

-- Copper gained $15, or 0.2 percent, to $9,240 a metric ton at
8:26 a.m. on the London Metal Exchange. Relative Strength Index
71.
-- Aluminum gained 1.2 percent to $2,358 a ton. RSI 53.9.
-- Zinc rose 1.2 percent to $2,350 a ton. RSI 56.6.
-- Lead advanced 1.1 percent at $2,466.75 a ton. RSI 58.7.
-- Nickel gained 1.5 percent to $24,899 a ton. RSI 65.4.
-- Tin rose 1.1 percent to $26,448 a ton. RSI 62.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   79.095          -0.2        1.6
Crude oil           $88.71           0.1       11.8
Gold                $1,405.28        0.8         28
MSCI World Index    1,267.92         0.2        8.5

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
Germany ZEW Survey                    3.9         1.8     10:00
U.S. advance retail sales             0.6%        1.2%    13:30
U.S. business inventories             1.0%        0.9%    15:00
U.S. FOMC rate decision               0.25%       0.25%   19:15