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.

Market News:

Metals News:

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 
mkolesnikova@bloomberg.net

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



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