Copper Rises as GFMS Forecasts Advance to $11,000: LME Preview

Copper rose in London as researcher GFMS Ltd. said the metal will climb to $11,000 a metric ton, implying a 33 percent jump from the current price.

Market News:

Metals News:

Metal Prices:

-- Copper rose $50, or 0.6 percent, to $8,270 a metric ton at
7:33 a.m. on the London Metal Exchange. Relative Strength Index
47.4.
-- Aluminum gained 0.5 percent to $2,282 a ton. RSI 43.9.
-- Zinc jumped 1.9 percent to $2,119 a ton. RSI 39.6.
-- Lead rose 1.7 percent to $2,224 a ton. RSI 40.9.
-- Nickel gained 0.6 percent to $22,550 a ton. RSI 47.6.
-- Tin was unchanged at $23,900 a ton. RSI 36.5.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   80.876           0.1        3.9
Crude oil           $85.43          -0.4        7.7
Gold                $1,365.9       -0.02       24.5
MSCI World Index    1,200.3        -0.05        2.7

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)

Germany unemployment change           -20K       -3K       8:55
Euro-zone CPI estimate (YoY)          1.9%       1.9%     10:00
Euro-zone unemployment rate          10.1%      10.1%     10:00
Chicago Purchasing Manager Index      59.9       60.6     14:45
U.S. consumer confidence              53.0       50.2     15:00

To contact the reporter on this story: Maria Kolesnikova in Moscow at mkolesnikova@bloomberg.net.

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter@bloomberg.net.

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