Copper Gains in London Before U.S. Payrolls: LME Preview

Copper rose in London before the U.S. government jobs report for September that economists say will show gains for payrolls, boosting the demand outlook for industrial metals.

Market News:

-- The jobless rate in the U.S. probably rose in September as

-- The Federal Reserve signaled it’s moving toward linking its

-- Asian stocks gained, led by commodity producers, and regional

-- The Bank of Japan held off from more easing after adding to

-- Only a dramatic shift in unemployment rates would alter the

Metals News:

-- Indonesia’s January to August nickel exports rose to 21.1

-- Billionaires seeking a haven for their wealth by investing in

Metals Prices:

-- Copper gained 0.2 percent to $8,314 a metric ton at 7:43
a.m. on the London Metal Exchange. Relative strength index 63.
-- Aluminum rose 0.2 percent to $2,115.25 a ton. RSI 60.
-- Nickel was down 0.1 percent at $18,665 a ton. RSI 67.
-- Lead fell 0.1 percent to $2,286.75 a ton. RSI 68.
-- Tin was little changed at $22,520 a ton. RSI 67.
-- Zinc gained 0.5 percent to $2,076.25 a ton. RSI 58.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     79.36            0.0       -1.0
Crude Oil            $91.42           -0.3       -7.5
Gold              $1,793.15            0.2       14.7
MSCI World Index   1,330.17            0.1       12.5

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
GE Factory Orders                    -0.5%        0.5%    11:00
US Change in Nonfarm Payrolls        115K        96K      13:30
US Unemployment Rate                  8.2%        8.1%    13:30
US Consumer Credit                   $7.25B   -$3.276B    20:00
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