Copper Gains a Second Month on Growth Signs: LME Preview

Copper rose in London, heading for a second monthly gain, as economic data signaled global growth, boosting the demand outlook for the metal.

Market News:

-- European equity futures rose before the central bank provides a second round of unlimited funds to support banks. Asia stocks

-- Japan and South Korea reported larger-than-forecast

-- The $10 trillion market for U.S. Treasuries is signaling that

-- Goldman Sachs Group Inc., Wells Fargo & Co. and JPMorgan

-- China’s local municipalities will press on with efforts to

Metals News:

-- Aluminum buyers in Japan agreed to pay producers higher

-- Teck Resources Ltd., the world’s fourth-largest zinc miner,

Metal Prices:

-- Copper gained 0.4 percent to $8,632.50 a metric ton by 7:49
a.m. on the London Metal Exchange. Relative Strength Index 61.
-- Aluminum rose 0.8 percent to $2,344 a ton. RSI 65.
-- Zinc climbed 0.2 percent to $2,128 a ton. RSI 59.
-- Lead gained 0.2 percent to $2,260 a ton. RSI 62.
-- Nickel jumped 1.7 percent to $20,120 a ton. RSI 48.
-- Tin was little changed at $24,060 a ton. RSI 55.
Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   78.154           -0.1           -2.5
Crude oil           $107.04           0.5            8.3
Gold                $1,787.40         0.2           14.3
MSCI World Index    1,305.52          0.2           10.4
Economic events:
                                       Forecast   Prior     Time
                                                        (London)
Germany Unemployment Change (000s) FEB   -5K      -34K     8:55
U.S. MBA Mortgage Applications  FEB 24   --       -4.5%   12:00
U.S. GDP QoQ                        4Q   2.8%     2.8%    13:30

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