Copper Climbs for a Third Day on Greek Polls: LME Preview-Shanghai Metals Market

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Copper Climbs for a Third Day on Greek Polls: LME Preview

Industry News 04:52:38PM May 28, 2012 Source:SMM

May 28 (Bloomberg) - Copper advanced for a third day after Greek opinion polls showed voters backed parties that support the European Union’s bailout, easing concern the country will exit the currency bloc and boosting the outlook for global growth and base-metals demand.

Market News:

Metals News:

Metal Prices:
-- Copper gained 1.3 percent to $7,741 a metric ton by 8:09
a.m. on the London Metal Exchange. Relative Strength Index 41.
-- Aluminum rose 0.5 percent to $2,024 a ton. RSI 40.
-- Zinc was little changed at $1,909.75 a ton. RSI 42.
-- Lead was up 0.3 percent at $1,955 a ton. RSI 41.
-- Nickel advanced 0.4 percent to $17,110 a ton. RSI 46.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.928           -0.6            2.2
Crude oil           $91.81            1.1           -7.1
Gold                $1,581.30         0.5            1.1
MSCI World Index    1,194.28          0.5            1.0

Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
Italy Business Confidence     MAY    88.6       89.5       9:00


 

Key Words:  copper; LME preview  

Copper Climbs for a Third Day on Greek Polls: LME Preview

Industry News 04:52:38PM May 28, 2012 Source:SMM

May 28 (Bloomberg) - Copper advanced for a third day after Greek opinion polls showed voters backed parties that support the European Union’s bailout, easing concern the country will exit the currency bloc and boosting the outlook for global growth and base-metals demand.

Market News:

Metals News:

Metal Prices:
-- Copper gained 1.3 percent to $7,741 a metric ton by 8:09
a.m. on the London Metal Exchange. Relative Strength Index 41.
-- Aluminum rose 0.5 percent to $2,024 a ton. RSI 40.
-- Zinc was little changed at $1,909.75 a ton. RSI 42.
-- Lead was up 0.3 percent at $1,955 a ton. RSI 41.
-- Nickel advanced 0.4 percent to $17,110 a ton. RSI 46.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.928           -0.6            2.2
Crude oil           $91.81            1.1           -7.1
Gold                $1,581.30         0.5            1.1
MSCI World Index    1,194.28          0.5            1.0

Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
Italy Business Confidence     MAY    88.6       89.5       9:00


 

Key Words:  copper; LME preview