Copper May Advance on Production Shortfall Outlook: LME Preview

Dec.8 (Bloomberg) --Copper may gain in London on speculation that supply will fail to meet demand after Peru, the third-biggest producer, said output dropped 7.4 percent in October because of a strike.

Market News:

Metals News:
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Metal Prices:
-- Copper gained $14.25, or 0.2 percent, to $7,834.25 a metric
ton by 7:32 a.m. on the London Metal Exchange. Relative Strength
Index 55.6.
-- Aluminum rose 0.3 percent to $2,084 a ton. RSI 46.6.
-- Zinc advanced 0.3 percent to $2,032 a ton. RSI 56.9.
-- Lead fell 0.6 percent to $2,135.50 a ton. RSI 60.2.
-- Nickel rose 0.5 percent to $18,135 a ton. RSI 51.9.
-- Tin fell 0.5 percent to $20,400 a ton. RSI 44.1.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   78.353           -0.1           -0.9
Crude oil           $100.77           0.3           10.3
Gold                $1,738.93        -0.2           22.4
MSCI World Index    1,197.44          0.01          -6.5

Economic events:
                                      Forecast  Prior     Time
                                                        (London)
BOE Announces Rates                     0.50%   0.50%      12:00
ECB Announces Interest Rates            1.00%   1.25%      12:45
U.S. Initial Jobless Claims   Dec. 3    395K    402K       13:30
Japan GDP QoQ                 Q3        1.3%    1.5%       23:50