Copper Advances to a 2-Week High on Chinese Demand: LME Preview

Industry News 05:06:19PM Feb 28, 2012 Source:SMM

Feb. 28 (Bloomberg) –Copper gained for a third day on speculation that Chinese demand will increase on infrastructure construction after banks relaxed lending curbs on local government financing vehicles.

Market News:

Metals News:

Metal Prices:
-- Copper rose 0.5 percent to $8,580 a metric ton by 8:03
a.m. on the London Metal Exchange. Relative Strength Index 59.
-- Aluminum gained 0.3 percent to $2,337.25 a ton. RSI 65.
-- Zinc advanced 0.8 percent to $2,113.75 a ton. RSI 58.
-- Lead rose 0.5 percent to $2,258.75 a ton. RSI 62.
-- Nickel gained 0.8 percent to $20,325 a ton. RSI 51.
-- Tin advanced 1.6 percent to $24,075 a ton. RSI 55.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   78.424           -0.1           -2.2
Crude oil           $108.39          -0.2            9.7
Gold                $1,774.1          0.4           13.5
MSCI World Index    1,299.78          0.1            9.9


Economic Events:

                                    Forecast    Prior     Time
                                                        (London)
Euro-Zone Consumer Confidence   FEB   -20.2      -20.2   10:00
U.S. Durable Goods Orders       JAN   -1.0%       3.0%   13:30
U.S. Consumer Confidence        FEB    63.0       61.1   15:00
Richmond Fed Manufacturing      FEB    14         12     15:00
Japan Industrial Production MoM FEB    1.5%       3.8%   23:50

 

Key Words:  copper;LME preview  

Copper Advances to a 2-Week High on Chinese Demand: LME Preview

Industry News 05:06:19PM Feb 28, 2012 Source:SMM

Feb. 28 (Bloomberg) –Copper gained for a third day on speculation that Chinese demand will increase on infrastructure construction after banks relaxed lending curbs on local government financing vehicles.

Market News:

Metals News:

Metal Prices:
-- Copper rose 0.5 percent to $8,580 a metric ton by 8:03
a.m. on the London Metal Exchange. Relative Strength Index 59.
-- Aluminum gained 0.3 percent to $2,337.25 a ton. RSI 65.
-- Zinc advanced 0.8 percent to $2,113.75 a ton. RSI 58.
-- Lead rose 0.5 percent to $2,258.75 a ton. RSI 62.
-- Nickel gained 0.8 percent to $20,325 a ton. RSI 51.
-- Tin advanced 1.6 percent to $24,075 a ton. RSI 55.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   78.424           -0.1           -2.2
Crude oil           $108.39          -0.2            9.7
Gold                $1,774.1          0.4           13.5
MSCI World Index    1,299.78          0.1            9.9


Economic Events:

                                    Forecast    Prior     Time
                                                        (London)
Euro-Zone Consumer Confidence   FEB   -20.2      -20.2   10:00
U.S. Durable Goods Orders       JAN   -1.0%       3.0%   13:30
U.S. Consumer Confidence        FEB    63.0       61.1   15:00
Richmond Fed Manufacturing      FEB    14         12     15:00
Japan Industrial Production MoM FEB    1.5%       3.8%   23:50

 

Key Words:  copper;LME preview