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Copper Rebounds in London on Mine Strike Threats: LME Preview
Sep 7,2011 16:54CST
industry news
Source:SMM
Copper gained for the first day in five on concern that production may decline amid strike threats at mines in Peru and Indonesia, worsening a global shortage.

Sept. 7 (Bloomberg) –Copper gained for the first day in five on concern that production may decline amid strike threats at mines in Peru and Indonesia, worsening a global shortage.

Market News:

Metals News:

Metal Prices:

-- Copper rose $99, or 1.1 percent, to $9,032 a metric ton by
7:46 a.m. on the London Metal Exchange. Relative Strength Index
48.1.
-- Aluminum gained 1 percent to $2,403 a ton. RSI 46.2.
-- Zinc gained 1.7 percent to $2,223 a ton. RSI 48.
-- Lead jumped 1.7 percent to $2,425 a ton. RSI 48.1.
-- Nickel advanced 2.3 percent to $21,150 a ton. RSI 43.3.
-- Tin was up 1 percent at $24,085 a ton. RSI 46.3.

Other markets:
                    Last           % Change   % YTD

U.S. Dollar Index   75.512          -0.5       -4.5
Crude oil           $86.93           1.1       -4.9
Gold                $1,837.68       -2.0       29.4
MSCI World Index    1,146.41         0.4      -10.4

Economic events:

                                      Forecast  Prior     Time
                                                        (London)
Germany Industrial Production MoM  JUL  0.5%   -1.1%      11:00
U.S. MBA Mortgage Applications  SEPT 2   --    -9.6%      12:00
Bank of Canada Rate                     1.0%    1.0%      14:00
U.S. Fed's Biege Book                                     19:00













 

copper;LME preview

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