Copper Jumps on Speculation Chinese Demand to Climb: LME Preview

Aug. 11 (Bloomberg) –Copper jumped the most in more than two months on speculation demand from China, the biggest user, will improve, as the yuan strengthened against the dollar to the highest since 1993.

Market News:

Metals News:

Metal Prices:
-- Copper gained $270, or 3.1 percent, to $8,865 a metric ton by
7:40 a.m. on the London Metal Exchange. Relative Strength
Index 35.2.
-- Aluminum gained 0.9 percent to $2,418 a ton. RSI 36.4.
-- Zinc advanced 3.8 percent to $2,181 a ton. RSI 36.9.
-- Lead jumped 2.9 percent to $2,340 a ton. RSI 35.
-- Nickel advanced 3.3 percent to $21,662 a ton. RSI 36.5.
-- Tin rose 3.3 percent to $23,500 a ton. RSI 31.5.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   74.332          -0.7       -5.9
Crude oil           $83.62           1.9       -8.6
Gold                $1,784.55       -0.5       25.6
MSCI World Index    1,138.15         0.7      -11.1

Economic events:
                                      Forecast  Prior     Time
                                                        (London)
U.S. Trade Balance                JUN  -$48.0   -$50.2B   13:30
U.S. Initial Jobless Claims     AUG.6    405K     400K    13:30
U.S. Bloomberg Consumer Comfort AUG.7   -48.7    -47.6    14:45