Copper Climbs a 2nd Day on Chinese Demand Outlook: LME Preview
Copper gained for a second day in London as imports of refined metal by China, the world’s biggest user, climbed to the highest since June 2009 and after Chinese Premier Wen Jiabao pledged to bolster exports.
Metal Prices: -- Copper gained $60, or 0.8 percent, to $7,470 a metric ton by 7:37 a.m. on the London Metal Exchange. Relative Strength Index 47.7. -- Aluminum gained 0.8 percent to $2,018 a ton. RSI 44.4. -- Zinc advanced 0.6 percent to $1,878 a ton. RSI 43.6. -- Lead rose 0.8 percent to $1,975.25 a ton. RSI 43.1. -- Nickel gained 0.3 percent to $18,927 a ton. RSI 57.2. -- Tin advanced 1.3 percent to $19,249 a ton. RSI 40.1. Other Markets: Last % Change % YTD U.S. Dollar Index 79.651 -0.2 0.8 Crude oil $98.07 0.8 7.3 Gold $1,628.90 0.8 14.7 MSCI World Index 1,167.20 0.3 -8.8 Economic events: Forecast Prior Time (London) U.S. MBA Mortgage Applications DEC 16 -- 4.1% 12:00 Euro-zone Consumer Confidence DEC -21.0 -20.4 15:00 U.S. Existing Home Sales NOV 5.05M 4.97M 15:00 To contact the reporter on this story: Maria Kolesnikova in London at firstname.lastname@example.org To contact the editor responsible for this story: Claudia Carpenter at email@example.com
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