Metals News
London Copper Inches Up As Euro Zone Adds Caution to Market
industry news

KUALA LUMPUR, Jan 5 (Reuters) - London copper inched up on Thursday after its biggest decline in two weeks though worries over the euro zone's funding ability limited gains in early Asian trading.   
Three-month copper on the London Metal Exchange rose 0.55 percent to $7,581.25 a tonne by 0127 GMT.   

The most-traded March copper contract on the Shanghai Futures Exchange lost 0.48 percent to 55,520 yuan ($8,800) a tonne.   

Copper fell 3.2 percent on Wednesday as persistent concerns over euro zone sovereign funding requirements eroded confidence and ignited a flight to safety.    

China's copper smelters and global miner BHP Billiton have settled 2012 term copper concentrate treatment and refining charges at $60 a tonne and 6 U.S. cents a pound, trade and smelter sources said on Wednesday.    
Markets News   

The euro wallowed at multi-year lows against the yen and Australian dollar in Asia on Thursday as markets refocused on the euro zone debt crisis with France next in line to raise funds in the bond market.    

France plans to raise up to 8 billion euros in long-term debt on Thursday but a key test for investor confidence is next week's debt sales by Spain and Italy.    

U.S. stocks closed nearly flat on Wednesday, erasing early losses after data showed new orders for U.S. factory goods rose solidly in November. But the data also showed business capital spending is cooling.    

An increase in new orders for U.S. factory goods in November pointed to further evidence the economy is recovering.
U.S. new vehicle sales released on Wednesday showed automakers ended the year with strong sales, but they forecast lower growth in 2012.
U.S. jobs figures due on Friday will be keenly watched for signs of a recovery in the world's largest economy.    
0700  Germany   Retail sales yy real    Nov           
1100  Brazil    Industrial output yy    Nov            
  Base metals prices at 0127 GMT
  Metal              Last       Change   Pct Move YTD pct chg
  LME Cu            7581.25     41.25     +0.55     -0.25
  SHFE CU FUT MAR2    55520      -270     -0.48      0.29
  LME Alum          2056.50     -7.50     -0.36      1.81
  SHFE AL FUT MAR2    15950        35     +0.22      0.60
  HG COPPER MAR2     344.40      0.95     +0.28      0.23
  LME Zinc          1871.25      2.25     +0.12      1.42
  SHFE ZN FUT MAR2    14845        70     +0.47      0.34
  LME Nickel       18725.00    -75.00     -0.40      0.40
  LME Lead          2065.00      5.00     +0.24      1.52
  SHFE PB FUT      15270.00     15.00     +0.10      0.13
  LME Tin          19605.00      0.00     +0.00      2.11
  LME/Shanghai arb     306
   Shanghai and COMEX contracts show most active months
   ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE third month
 ($1 = 6.2946 Chinese yuan)   

London copper
For queries, please contact Frank LIU at
For more information on how to access our research reports, please email
Related Price

No Data