Bloomberg News

Copper Gains in London Before China’s Production: LME Preview

December 07, 2012

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


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