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Copper Gains as Freeport’s Peru Unit May Strike: LME Preview
Sep 14,2011 11:57CST
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Source:SMM
Copper advanced for the first time in three days as workers at Freeport’s Peruvian unit may proceed with a strike tomorrow and as concerns over financial instability in Europe eased.

Sept. 13 (Bloomberg) –Copper advanced for the first time in three days as workers at Freeport-McMoRan Copper & Gold Inc.’s Peruvian unit may proceed with a strike tomorrow and as concerns over financial instability in Europe eased amid reports that China may invest in Italy.

Market News:

Metals News:

Metal Prices:
-- Copper rose $105.50, or 1.2 percent, to $8,860 a metric ton
by 7:36 a.m. on the London Metal Exchange. Relative Strength
Index 43.9.
-- Aluminum gained 1 percent to $2,395 a ton. RSI 46.6.
-- Zinc dropped 0.2 percent to $2,209 a ton. RSI 46.9.
-- Lead rose 0.3 percent to $2,430 a ton. RSI 48.4.
-- Nickel was little changed at $21,597 a ton. RSI 48.1.
-- Tin was up 0.6 percent at $23,600 a ton. RSI 42.8.

Other markets:

                    Last           % Change   % YTD

U.S. Dollar Index   77.127          -0.6       -2.4
Crude oil           $88.91           0.8       -2.7
Gold                $1,829.70        0.8       28.8
MSCI World Index    1,125.91         0.3      -12.0

Economic events:
                                      Forecast  Prior     Time
                                                        (London)
U.K. CPI MoM                      AUG   0.6%     0.0%      9:30
U.S. NFIB Small Business Optimism AUG   88.0     89.9     12:30
U.S. Import Price Index MoM       AUG  -0.8%     0.3%     13:30
U.S. Monthly Budget Statement     AUG  -$132.0B -$90.5B   19:00
 

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