Copper Heads for Second Weekly Gain on Stockpiles: LME Preview

Copper climbed, set for a second weekly advance, after London Metal Exchange stockpiles fell to their lowest level in almost six months.

Market News:

Metals News:

Metal Prices:
-- Copper rose $186, or 2.5 percent, to $7,496 a metric ton by
7:27 a.m. on the London Metal Exchange. Relative Strength Index
45.
-- Aluminum gained 0.3 percent to $2,212.75 a ton. RSI 42.1.
-- Zinc jumped 1.1 percent to $1,945 a ton. RSI 44.6.
-- Lead was unchanged at $2,036 a ton. RSI 44.3.
-- Nickel gained 1 percent to $18,639 a ton. RSI 42.7.
-- Tin climbed 1.4 percent to $22,300 a ton. RSI 50.1.

Other Markets:
                    Last           % Change   % YTD
U.S. Dollar Index   76.920          -0.2       -2.7
Crude oil           $84.80           0.7       -7.2
Gold                $1,671.81        0.2       17.7
MSCI World Index    1,170.05         0.1       -8.6

Economic events:
                                        Forecast  Prior    Time
                                                        (London)
Euro-zone CPI MoM                 AUG     0.8%    0.2%     10:00
U.S. Advance Retail Sales         SEP     0.7%    0.0%     13:30
U.S. Univ. of Michigan Confidence OCT P   60.2    59.4     14:55
U.S. Monthly Budget Statement     SEP   -$64.0B -$34.6B    19:00

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

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net