Copper Gains as China Data Spurs Easing Speculation: LME Preview

Copper gained in London on speculation of further policy easing in China, the biggest metals user, after the country’s industrial output growth unexpectedly slowed in July and inflation cooled.

Market News:

-- European stock futures rallied and Asian shares climbed for a fourth day as easing inflation in China fueled speculation

-- China’s inflation cooled for a fourth month, and central

-- Standard Chartered Plc Chief Executive Officer Peter Sands

Metals News:

Metal Prices:

-- Copper gained 0.2 percent to $7,567 a metric ton by 7:39
a.m. on the London Metal Exchange. Relative Strength Index 52.
-- Aluminum declined 0.2 percent to $1,912 a ton. RSI 53.
-- Zinc dropped 0.5 percent to $1,860.50 a ton. RSI 52.
-- Lead gained 0.2 percent to $1,914.25 a ton. RSI 54.
-- Nickel declined 0.5 percent to $15,657 a ton. RSI 44.
-- Tin was unchanged at $18,200 a ton. RSI 48.
Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   82.253           -0.2            2.6
Crude oil           $93.66            0.3           -5.2
Gold                $1,616.38         0.3            3.4
MSCI World Index    1,277.59          0.1            8.0
Economic events:
                                    Forecast    Prior     Time
                                                        (London)
U.S. Trade Balance              JUN   -$47.5B   -$48.7B    13:30
U.S. Initial Jobless Claims     AUG 4   370K      365K     13:30
U.S. Bloomberg Consumer Comfort AUG 5    --      -39.7     14:45
U.S. Wholesale Inventories      JUN     0.3%      0.3%     15:00

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