Copper Rises to Record in London on U.S. Optimism: Metal Exchange Preview-Shanghai Metals Market

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Copper Rises to Record in London on U.S. Optimism: Metal Exchange Preview

Industry News 09:50:12AM Dec 22, 2010 Source:SMM

Dec. 21 (Bloomberg) --Copper climbed to a record in London on optimism the economic recovery in the U.S. remains on track, boosting the demand outlook for the metal amid supply disruptions at the world’s third-largest copper mine.

Copper rose $117, or 1.3 percent, to $9,318 a metric ton at 7:30 a.m. on the London Metal Exchange. Relative Strength Index 68.

Aluminum gained 0.3 percent to $2,385.50 a ton. RSI 57.7. -- Zinc jumped 1.4 percent to $2,322 a ton. RSI 54.7. -- Lead rose 0.9 percent to $2,462.25 a ton. RSI 57.4. -- Nickel gained 1.3 percent to $24,865 a ton. RSI 62.6. -- Tin was little changed at $26,195 a ton. RSI 57.

Other markets: Last % Change % YTD U.S. Dollar Index 80.268 -0.4 3.1 Crude oil $89.58 0.2 13 Gold $1,388.13 0.2 27 MSCI World Index 1,264.2 0.4 8.2

 

 


 

Copper Rises to Record in London on U.S. Optimism: Metal Exchange Preview

Industry News 09:50:12AM Dec 22, 2010 Source:SMM

Dec. 21 (Bloomberg) --Copper climbed to a record in London on optimism the economic recovery in the U.S. remains on track, boosting the demand outlook for the metal amid supply disruptions at the world’s third-largest copper mine.

Copper rose $117, or 1.3 percent, to $9,318 a metric ton at 7:30 a.m. on the London Metal Exchange. Relative Strength Index 68.

Aluminum gained 0.3 percent to $2,385.50 a ton. RSI 57.7. -- Zinc jumped 1.4 percent to $2,322 a ton. RSI 54.7. -- Lead rose 0.9 percent to $2,462.25 a ton. RSI 57.4. -- Nickel gained 1.3 percent to $24,865 a ton. RSI 62.6. -- Tin was little changed at $26,195 a ton. RSI 57.

Other markets: Last % Change % YTD U.S. Dollar Index 80.268 -0.4 3.1 Crude oil $89.58 0.2 13 Gold $1,388.13 0.2 27 MSCI World Index 1,264.2 0.4 8.2