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Copper Advances on U.S. Demand Speculation: LME Preview
Mar 21,2012 17:07CST
industry news
Source:SMM
Copper rebounded from the biggest decline in two weeks on speculation U.S. economic data signals demand from the second-biggest buyer will be strong.

Mar. 21 (Bloomberg) - Copper rebounded from the biggest decline in two weeks on speculation U.S. economic data signals demand from the second-biggest buyer will be strong, and after China said imports of refined metal gained in February.

Market News:

Metals News:

Metal Prices:
-- Copper gained 0.6 percent to $8,480 a metric ton by 7:42
a.m. on the London Metal Exchange. Relative Strength Index 52.
-- Aluminum advanced 0.3 percent to $2,252 a ton. RSI 50.
-- Zinc jumped 0.7 percent to $2,050 a ton. RSI 48.
-- Lead rose 0.2 percent to $2,018.25 a ton. RSI 38.
-- Nickel declined 0.1 percent to $19,037 a ton. RSI 42.
-- Tin gained 0.3 percent to $23,500 a ton. RSI 50.

Other Markets:

                     Last           % Change       % YTD
U.S. Dollar Index   79.458           -0.2           -0.9
Crude oil           $106.46           0.4            7.7
Gold                $1,652.98         0.1            5.7
MSCI World Index    1,316.14          0.0           11.3


Economic Events:
                                     Forecast    Prior     Time
                                                        (London)
U.S. MBA Mortgage Applications MAR 16   --       -2.4%    11:00
U.S. Existing Home Sales       FEB      4.61M    4.57M    14:00

 

copper; LME preview

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