Copper Jumps to 1-Week High on China Outlook: LME Preview-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Stainless steel
  • Copper
  • Rare earths
  • Nickel
  • Aluminium
  • Market commentary
  • Zinc
  • Macroeconomics
  • Iron ore
  • Nickel ore
  • Tin
  • Evening comments
  • Production data
  • Morning comments

Copper Jumps to 1-Week High on China Outlook: LME Preview

Industry News 04:33:38PM May 22, 2012 Source:SMM

May 22 (Bloomberg) - Copper gained to the highest level in a week as the Chinese government seeks to spur its economy and data signaled the world’s second-biggest economy may avoid a deeper slowdown, improving the demand outlook for metals.

Market News:

Metals News:

Metal Prices:
-- Copper rose 0.8 percent to $7,790 a metric ton by 7:35
a.m. on the London Metal Exchange. Relative Strength Index 39.
-- Aluminum was little-changed at $2,046.75 a ton. RSI 42.
-- Zinc was little-changed at $1,906 a ton. RSI 37.
-- Lead gained 0.5 percent to $1,950.50 a ton. RSI 37.
-- Nickel rose 0.1 percent to $17,205 a ton. RSI 45.
-- Tin jumped 1 percent to $19,450 a ton. RSI 32.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.036           -0.1            1.1
Crude oil           $92.92            0.4           -6.0
Gold                $1,588.29        -0.3            1.6
MSCI World Index    1,194.47          0.3            1.0

Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
EC OECD Economic Outlook                                  10:00
Euro-zone Consumer Confidence   MAY   -20.5     -19.9     15:00
Richmond Fed Manufact. Index    MAY     11        14      15:00
U.S. Existing Home Sales        APR   4.61M     4.48M     15:00

 

 

 

 

Key Words:  copper; LME preview  

Copper Jumps to 1-Week High on China Outlook: LME Preview

Industry News 04:33:38PM May 22, 2012 Source:SMM

May 22 (Bloomberg) - Copper gained to the highest level in a week as the Chinese government seeks to spur its economy and data signaled the world’s second-biggest economy may avoid a deeper slowdown, improving the demand outlook for metals.

Market News:

Metals News:

Metal Prices:
-- Copper rose 0.8 percent to $7,790 a metric ton by 7:35
a.m. on the London Metal Exchange. Relative Strength Index 39.
-- Aluminum was little-changed at $2,046.75 a ton. RSI 42.
-- Zinc was little-changed at $1,906 a ton. RSI 37.
-- Lead gained 0.5 percent to $1,950.50 a ton. RSI 37.
-- Nickel rose 0.1 percent to $17,205 a ton. RSI 45.
-- Tin jumped 1 percent to $19,450 a ton. RSI 32.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.036           -0.1            1.1
Crude oil           $92.92            0.4           -6.0
Gold                $1,588.29        -0.3            1.6
MSCI World Index    1,194.47          0.3            1.0

Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
EC OECD Economic Outlook                                  10:00
Euro-zone Consumer Confidence   MAY   -20.5     -19.9     15:00
Richmond Fed Manufact. Index    MAY     11        14      15:00
U.S. Existing Home Sales        APR   4.61M     4.48M     15:00

 

 

 

 

Key Words:  copper; LME preview