Copper Advances on Greece Bailout Agreement: LME Preview

Copper jumped in London after euro-area finance ministers reached agreement on a second debt bailout package for Greece, boosting the demand outlook for raw materials.

Market News:

-- European equity futures and metals climbed, while the euro

-- Debt-stricken Greece won a second bailout after European

-- Treasuries fell for a third day after European finance

-- UBS AG’s decision to become first-confessor as regulators

Metals News:

-- Refined copper imports by China declined for the first time

-- Zinc-processing fees may fall about 4.3 percent this year as

-- Rio Tinto Group, the second-biggest iron ore exporter,

-- China is clamping down on overcapacity in the world’s biggest

-- A worker died in an incident at Anglo American Plc and

Metal Prices:

-- Copper jumped 1.3 percent to $8,339 a metric ton by 7:40
a.m. on the London Metal Exchange. Relative Strength Index 52.
-- Aluminum gained 0.9 percent to $2,199 a ton. RSI 50.
-- Zinc advanced 1.4 percent to $2,009 a ton. RSI 46.
-- Lead jumped 1.5 percent to $2,082 a ton. RSI 45.
-- Nickel rose 1.1 percent to $19,975 a ton. RSI 45.
-- Tin jumped 1.9 percent to $23,950 a ton. RSI 55.
Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   79.040           -0.1           -1.4
Crude oil           $104.72           1.4            6.0
Gold                $1,740.20         0.3           11.3
MSCI World Index    1,294.65         -0.1            9.5
Economic events:
                                      Forecast    Prior     Time
                                                        (London)
U.S. Chicago Fed Nat Activity Index JAN  0.22     0.17     13:30
Euro-Zone Consumer Confidence       FEB  -20.1   -20.7     15:00

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