Copper Climbs to Two-Month High on China GDP, Rio: LME Preview-Shanghai Metals Market

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Copper Climbs to Two-Month High on China GDP, Rio: LME Preview

Industry News 04:49:55PM Jan 17, 2012 Source:SMM

Jan. 17 (Bloomberg) –Copper advanced to the highest level in more than two months as the economy in China, the biggest metals user, grew faster than predicted and Rio Tinto Group said mined production fell 26 percent in the fourth quarter.

Market News:

Metals News:

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Metal Prices:
-- Copper rose $151, or 1.9 percent, to $8,240 a metric ton
at 7:35 a.m. on the London Metal Exchange. Relative Strength
Index 67.
-- Aluminum gained 1.3 percent to $2,190 a ton. RSI 65.
-- Zinc gained 1.7 percent to $1,993.50 a ton. RSI 63.
-- Lead advanced 1.4 percent to $2,060 a ton. RSI 55.
-- Nickel rose 0.9 percent to $19,600 a ton. RSI 61.
-- Tin jumped 2.1 percent to $21,300 a ton. RSI 64.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.021           -0.6            1.1
Crude oil           $100.48           1.8            1.7
Gold                $1,663.58         1.2            6.4
MSCI World Index    1,206.83          0.4            2.1


Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
Euro-Zone CPI MoM                   DEC   0.4%     0.1%  10:00
Germany ZEU Economic Sentiment      JAN  -49.4    -53.8  10:00
U.S. Empire Manufacturing           JAN   11.00    9.53  13:30


 

Key Words:  copper;LME preview  

Copper Climbs to Two-Month High on China GDP, Rio: LME Preview

Industry News 04:49:55PM Jan 17, 2012 Source:SMM

Jan. 17 (Bloomberg) –Copper advanced to the highest level in more than two months as the economy in China, the biggest metals user, grew faster than predicted and Rio Tinto Group said mined production fell 26 percent in the fourth quarter.

Market News:

Metals News:

Want to save this for later? Add it to your Queue!

Metal Prices:
-- Copper rose $151, or 1.9 percent, to $8,240 a metric ton
at 7:35 a.m. on the London Metal Exchange. Relative Strength
Index 67.
-- Aluminum gained 1.3 percent to $2,190 a ton. RSI 65.
-- Zinc gained 1.7 percent to $1,993.50 a ton. RSI 63.
-- Lead advanced 1.4 percent to $2,060 a ton. RSI 55.
-- Nickel rose 0.9 percent to $19,600 a ton. RSI 61.
-- Tin jumped 2.1 percent to $21,300 a ton. RSI 64.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.021           -0.6            1.1
Crude oil           $100.48           1.8            1.7
Gold                $1,663.58         1.2            6.4
MSCI World Index    1,206.83          0.4            2.1


Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
Euro-Zone CPI MoM                   DEC   0.4%     0.1%  10:00
Germany ZEU Economic Sentiment      JAN  -49.4    -53.8  10:00
U.S. Empire Manufacturing           JAN   11.00    9.53  13:30


 

Key Words:  copper;LME preview