Copper Rises as China's Reserve Cut May Fuel Growth: LME Preview

Industry News 09:19:39AM Feb 21, 2012 Source:SMM

Feb. 20 (Bloomberg) –Copper climbed in London after China, the world's largest buyer of the metal, lowered the bank reserve requirement by half a percentage point, fueling speculation about more cuts that may boost demand for metals.

Market News:

Metals News:

Metals Prices:
-- Copper rose 1.3 percent to $8,282 a metric ton at 7:26
a.m. on the London Metal Exchange. Relative Strength Index 50.
-- Aluminum gained 0.8 percent to $2,181 a ton. RSI 47.
-- Zinc was up 2.6 percent at $1,996 a ton. RSI 45.
-- Lead increased 1.4 percent to $2,073 a ton. RSI 44.
-- Nickel jumped 1.4 percent to 19,900 a ton. RSI 44.
-- Tin climbed 2.1 percent to $23,950 a ton. RSI 55.

Other Markets:    
     Last          % Change   % YTD

U.S. Dollar Index     79.06           -0.3       -1.4
Crude Oil           $104.84            1.6        6.1
Gold              $1,735.35            0.7       11.0
MSCI World Index   1,292.01            0.3        9.3

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
IT Industrial Orders                 0.4%         0.1%    09:00
 

Key Words:  copper 

Copper Rises as China's Reserve Cut May Fuel Growth: LME Preview

Industry News 09:19:39AM Feb 21, 2012 Source:SMM

Feb. 20 (Bloomberg) –Copper climbed in London after China, the world's largest buyer of the metal, lowered the bank reserve requirement by half a percentage point, fueling speculation about more cuts that may boost demand for metals.

Market News:

Metals News:

Metals Prices:
-- Copper rose 1.3 percent to $8,282 a metric ton at 7:26
a.m. on the London Metal Exchange. Relative Strength Index 50.
-- Aluminum gained 0.8 percent to $2,181 a ton. RSI 47.
-- Zinc was up 2.6 percent at $1,996 a ton. RSI 45.
-- Lead increased 1.4 percent to $2,073 a ton. RSI 44.
-- Nickel jumped 1.4 percent to 19,900 a ton. RSI 44.
-- Tin climbed 2.1 percent to $23,950 a ton. RSI 55.

Other Markets:    
     Last          % Change   % YTD

U.S. Dollar Index     79.06           -0.3       -1.4
Crude Oil           $104.84            1.6        6.1
Gold              $1,735.35            0.7       11.0
MSCI World Index   1,292.01            0.3        9.3

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
IT Industrial Orders                 0.4%         0.1%    09:00
 

Key Words:  copper