Copper May Fall as Some Investors Sell After Rally: LME Preview

Copper may fall for the first time in four days in London as some investors sell the metal to lock in gains following its climb to a three-week high.

Market News:

-- An increase in November payrolls probably pushed U.S. job

-- South Korea’s military said it is preparing to carry out the

-- Oil dropped from a two-year high in New York after China’s

Metals News:

-- China should consider adding to its gold reserves as a long-

-- Wage talks at Anglo American Plc and Xstrata Plc’s Collahuasi

-- Silver prices may peak near $35 an ounce next year and

-- Xstrata Plc, the world’s biggest thermal coal exporter, said

-- Rio Tinto Group, the world’s third-largest mining company,

Metal Prices:

-- Copper rose $10, or 0.1 percent, to $8,730 a metric ton at
7:30 a.m. on the London Metal Exchange. Relative Strength Index
60.5.
-- Aluminum rose 0.4 percent to $2,357 a ton. RSI 54.2.
-- Zinc dropped 1 percent to $2,238.25 a ton. RSI 48.9.
-- Lead declined 0.2 percent to $2,370 a ton. RSI 51.7.
-- Nickel was unchanged at $23,650 a ton. RSI 57.3.
-- Tin declined 0.4 percent to $25,450 a ton. RSI 53.1.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   80.131          -0.2        2.9
Crude oil           $87.93          -0.1       10.8
Gold                $1,391.75        0.5       26.9
MSCI World Index    1,240.29         0.2        6.1

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)

EC services PMI                       55.2        55.2      9:00
U.S. change in nonfarm payrolls       150K        151K     13:30
U.S unemployment rate                 9.6%        9.6%     13:30
U.S. factory orders                  -1.2%        2.1%     15:00
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