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Copper Rises on Speculation of More Demand in China: LME Preview
Oct 26,2011 16:33CST
industry news
Source:SMM
Copper climbed in London on speculation of more demand in China, the world’s biggest buyer of the metal, after Premier Wen Jiabao said economic policy will be adjusted at a “suitable time.”

Oct. 26 (Bloomberg) –Copper climbed in London on speculation of more demand in China, the world’s biggest buyer of the metal, after Premier Wen Jiabao said economic policy will be adjusted at a “suitable time.”

Market News:

Metals News:

Metals Prices:
-- Copper rose $220, or 2.9 percent, to $7,750 a metric ton at
7:19 a.m. on the London Metal Exchange. Relative Strength
Index 53.
-- Aluminum gained 0.9 percent to $2,245 a ton. RSI 51.
-- Zinc was up 2.6 percent at $1,890.25 a ton. RSI 47.
-- Lead climbed 1.9 percent to $2,000 a ton. RSI 48.
-- Nickel advanced 0.9 percent to $19,930 a ton. RSI 54.
-- Tin hasn’t traded.

Other markets:         Last          % Change    % YTD

U.S. Dollar Index     76.18            0.1     -3.6
Crude Oil            $93.51            0.4      2.4
Gold              $1,718.43            0.8     20.9
MSCI World Index   1,196.13            0.0     -6.6

Economic Events:

                                    Forecast     Prior     Time
                                                        (London)
IT Business Confidence               94.0         94.5    09:00
US Durable Goods Orders              -1.0%       -0.1%    13:30
US New Home Sales                   300K         295K     15:00
 

copper;LME preview

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