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Copper advanced in London on prospects for growth in industrial production in China, the world’s largest buyer of industrial metals. China’s National Bureau of Statistics on Dec. 9 will report a 9.8 percent gain in November industrial production from a year earlier, up from a 9.6 percent gain in October, according to the median estimate of analysts surveyed by Bloomberg News.
Market News:
Metals News:
Metals Prices:
-- Copper rose 0.1 percent to $8,008.50 a metric ton at 7:40
a.m. on the London Metal Exchange. Relative strength index 62.
-- Aluminum advanced 0.1 percent to $2,091 a ton. RSI 64.
-- Nickel slipped 0.2 percent to $17,171 a ton. RSI 57.
-- Lead declined 0.4 percent to $2,205 a ton. RSI 53.
-- Tin was down 0.6 percent at $21,760 a ton. RSI 63.
-- Zinc gained 0.1 percent to $2,026 a ton. RSI 63.
Other markets: Last % Change % YTD
U.S. Dollar Index 80.28 0.1 0.1
Crude Oil $86.55 0.3 -12.4
Gold $1,702.59 0.2 8.9
MSCI World Index 1,318.98 -0.1 11.5
Economic Events:
Survey Prior Time
(London)
UK Industrial Production 0.8% -1.7% 09:30
GE Industrial Production 0.0% -1.8% 11:00
US Change in Nonfarm Payrolls 85K 171K 13:30
US Change in Manuf. Payrolls -3K 13K 13:30
US Unemployment Rate 7.9% 7.9% 13:30
US U. of Michigan Confidence 82.0 82.7 14:55
On DEC. 9:
CHINA Consumer Price Index 2.1% 1.7% 01:30
CHINA Industrial Production 9.8% 9.6% 05:30
CHINA Fixed Assets Inv. 20.9% 20.7% 05:30
CHINA Retail Sales 14.6% 14.5% 05:30
To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@abloomberg.net
To contact the editor responsible for this story: Claudia Carpenter at ccarpenter@bloomberg.net