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Copper May Gain as China Buys After Price Drop: LME Preview
Aug 19,2011 17:45CST
industry news
Source:SMM
Copper may advance in London as buyers in China, the largest consumer, took advantage of recent price declines to rebuild stockpiles amid expectations for a global supply deficit.

Aug. 19 (Bloomberg) –Copper may advance in London as buyers in China, the largest consumer, took advantage of recent price declines to rebuild stockpiles amid expectations for a global supply deficit.

Market News:

Metals News:

Metal Prices:
-- Copper rose $10, or 0.1 percent, to $8,780 a metric ton by
7:33 a.m. on the London Metal Exchange. Relative Strength Index
36.5.
-- Aluminum fell 0.1 percent to $2,335 a ton. RSI 29.9.
-- Zinc declined 0.2 percent to $2,173 a ton. RSI 38.2.
-- Lead rose 0.3 percent to $2,308 a ton. RSI 35.4.
-- Nickel was unchanged at $21,300 a ton. RSI 36.6.
-- Tin rose 0.2 percent to $22,800 a ton. RSI 32.2.

Other markets:      Last           % Change   % YTD

U.S. Dollar Index   74.292           0.1       -6.0
Crude oil           $80.58          -2.2      -11.8
Gold                $1,848.85        1.4       30.1
MSCI World Index    1,142.91        -0.4      -10.7

Economic events:
                                      Forecast  Prior     Time
                                                        (London)
Canada CPI            (MoM) JUL        0.2%    -0.6%     12:00
Other markets: Last % Change % YTD

U.S. Dollar Index 74.292 0.1 -6.0 Crude oil $80.58 -2.2 -11.8 Gold $1,848.85 1.4 30.1 MSCI World Index 1,142.91 -0.4 -10.7

 

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