Copper Rises as Strike at BHP Chile Mine Unresolved: LME Preview

Aug. 4 (Bloomberg) –Copper in London rebounded from a more than three-week low as a strike at the world’s largest copper mine in Chile remained unresolved, disrupting supply of the metal forecast to be in a shortage this year.

Market News:

Metals News:

Metal Prices:
-- Copper gained $49.50, or 0.5 percent, to $9,584.50 a metric
ton by 7:49 a.m. on the London Metal Exchange. Relative Strength
Index 49.7.
-- Aluminum gained 0.1 percent to $2,527.75 a ton. RSI 43.5.
-- Zinc advanced 0.8 percent to $2,395.75 a ton. RSI 48.2.
-- Lead advanced 0.6 percent to $2,536 a ton. RSI 38.
-- Nickel gained 0.4 percent to $23,900 a ton. RSI 49.4.
-- Tin jumped 1.1 percent to $26,600 a ton. RSI 42.1.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   74.387           0.5       -5.9
Crude oil           $91.97           0.0        0.7
Gold                $1,663.05        0.1       17.0
MSCI World Index    1,257.41        -0.4       -1.8

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
Germany Factory Orders        (MoM)    -0.5%      1.8%    11:00
ECB Announces Interest Rates            1.5%      1.5%    12:45
U.S. Initial Jobless Claims  JUL30      405K      398K    13:30
Continuing Claims            JUL 23    3700K     3703K    13:30
Bloomberg Consumer Comfort   JUL 31    -47.5     -46.8    14:45