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Copper Rebounds as Debt Crisis May Be Contained: LME Preview
Sep 28,2011 09:54CST
industry news
Source:SMM
Copper gained for the first day in eight on expectations that European leaders will act to contain the region’s sovereign-debt crisis, boosting demand for raw materials.

Sept. 27 (Bloomberg) –Copper gained for the first day in eight on expectations that European leaders will act to contain the region’s sovereign-debt crisis, boosting demand for raw materials.

Market News:

Metals News:

Metal Prices:

-- Copper gained $193.75, or 2.7 percent, to $7,459.75 a metric
ton by 7:40 a.m. on the London Metal Exchange. Relative Strength
Index 23.94.
-- Aluminum advanced 1.8 percent to $2,244 a ton. RSI 33.8.
-- Zinc jumped 2.7 percent to $1,931.50 a ton. RSI 31.1.
-- Lead surged 4.3 percent to $1,958 a ton. RSI 29.4.
-- Nickel advanced 4.2 percent to $18,750 a ton. RSI 34.9.
-- Tin jumped 5 percent to $21,350 a ton. RSI 37.8.

Other markets:
                    Last           % Change   % YTD

U.S. Dollar Index   77.978          -0.5       -1.3
Crude oil           $82.38           2.6       -9.9
Gold                $1,649.13        1.5       16.1
MSCI World Index    1,117.29         0.7      -12.7

Economic events:
                                      Forecast  Prior     Time
                                                        (London)
S&P/CS Composite-20 YoY    JUL          -4.40%  -4.52%    14:00
U.S. Consumer Confidence          SEP    46.0    44.5     15:00
U.S. Richmond Fed Manufact. Index SEP     -11     -10     15:00
 

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