Copper Advances on Prospects for Japan Rebuilding After Quake: LME Preview-Shanghai Metals Market

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Copper Advances on Prospects for Japan Rebuilding After Quake: LME Preview

Industry News 09:43:31AM Mar 17, 2011 Source:SMM

Mar.16 ((Bloomberg) ) --Copper climbed for the first time in six days on expectation that reconstruction needs after Japan’s largest quake on record will boost demand in three to six months.

-- Copper rose $187 to $9,305 a metric ton at 7:24 a.m. on the London Metal Exchange. Relative Strength Index 41.1.
-- Aluminum gained 0.6 percent to $2,507 a ton. RSI 44.0.
-- Zinc climbed 2 percent to $2,327 a ton. RSI 42.7.
-- Lead added 1.1 percent to $2,536 a ton. RSI 49.8.
-- Nickel advanced 2.4 percent to $25,301 a ton. RSI 34.7.
-- Tin rose 1 percent to $28,900 a ton. RSI 36.2.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   76.354          +0.03      -3.4
Crude oil           $97.94          +0.8       +7.2
Gold                $1,401.82       +0.4       -1.3
MSCI World Index    1,280.54        +0.7       +0.04

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
Euro-Zone CPI                       0.4%         -0.7%    10:00
U.S. Housing Starts                 566K         596K     12:30
U.S. Producer Price Index           0.7%         0.8%     12:30

 

 

Copper Advances on Prospects for Japan Rebuilding After Quake: LME Preview

Industry News 09:43:31AM Mar 17, 2011 Source:SMM

Mar.16 ((Bloomberg) ) --Copper climbed for the first time in six days on expectation that reconstruction needs after Japan’s largest quake on record will boost demand in three to six months.

-- Copper rose $187 to $9,305 a metric ton at 7:24 a.m. on the London Metal Exchange. Relative Strength Index 41.1.
-- Aluminum gained 0.6 percent to $2,507 a ton. RSI 44.0.
-- Zinc climbed 2 percent to $2,327 a ton. RSI 42.7.
-- Lead added 1.1 percent to $2,536 a ton. RSI 49.8.
-- Nickel advanced 2.4 percent to $25,301 a ton. RSI 34.7.
-- Tin rose 1 percent to $28,900 a ton. RSI 36.2.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   76.354          +0.03      -3.4
Crude oil           $97.94          +0.8       +7.2
Gold                $1,401.82       +0.4       -1.3
MSCI World Index    1,280.54        +0.7       +0.04

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
Euro-Zone CPI                       0.4%         -0.7%    10:00
U.S. Housing Starts                 566K         596K     12:30
U.S. Producer Price Index           0.7%         0.8%     12:30