Dec. 10 (Bloomberg) -- The Standard & Poor’s GSCI gauge of 24 commodities rose 0.2 percent to 633.95 by 4:45 p.m. in London. The UBS Bloomberg CMCI index of 26 raw materials was up 0.2 percent at 1,580.415.
Tin jumped to the highest level in eight months in London and copper futures rallied to a seven-week high in New York after industrial production expanded in China, bolstering the outlook for demand.
Copper futures for delivery in March added 1.3 percent to $3.7105 a pound on the Comex in New York. Prices touched $3.7175 earlier today, the highest since Oct. 19.
On the London Metal Exchange, copper for delivery in three months rose 1.3 percent to $8,143 a metric ton ($3.69 a pound). Tin jumped as much as 6.2 percent to $23,120 a ton, the highest level since April 5.
Zinc, lead, nickel and aluminum also gained in London.
Base metals markets: NI BMMKTS
Gold gained for a third day in New York after a recent slide to a one-month low and speculation of more U.S. stimulus boosted demand.
Gold for February delivery rose 0.5 percent to $1,713.90 an ounce on the Comex in New York. It slid to $1,684.10 on Dec. 7, the lowest since Nov. 6.
Silver for March delivery rose 0.8 percent to $33.40 an ounce.
Precious metal markets: NI PCMKTS
Oil rose for the first time in five days as China’s net crude imports climbed to a six-month high in November and German exports unexpectedly increased.
Crude for January delivery rose 48 cents, or 0.6 percent, to $86.41 a barrel on the New York Mercantile Exchange. The contract dropped Dec. 7 to $85.93, the lowest close since Nov. 15. Prices are down 13 percent this year.
Brent for January settlement climbed 96 cents, or 0.9 percent, to $107.98 a barrel on the London-based ICE Futures Europe exchange.
Oil markets: NI OILMARKET
Gasoline rose on optimism U.S. lawmakers will reach a budget deal and as higher Brent crude prices increased the cost of imported oil used by U.S. refiners.
Gasoline for January delivery rose 1.45 cents, or 0.6 percent, to $2.6119 a gallon on the New York Mercantile Exchange, after falling 5.9 percent last week.
January-delivery heating oil slipped 0.06 cent to $2.9147 a gallon, following a 4.1 percent drop last week.
The average nationwide cost for regular gasoline fell 0.7 cent to a $3.34 a gallon, AAA said today on its website. That’s the lowest level since July 4. The pump price reached a 2012 high of $3.936 on April 4.
Oil Products Europe: NI OPEMKT Gasoline: NI GASOLINE Heating oil: NI HEATOIL
Cattle prices may fall for the second straight session on signs of slowing demand for U.S. beef. Hog futures were little changed.
Cattle futures for February delivery slid 0.1 percent to $1.30325 a pound on the Chicago Mercantile Exchange. The commodity climbed 7.4 percent this year through Dec. 7 as the U.S. herd shrunk.
Feeder-cattle futures for January settlement climbed 0.6 percent to $1.4965 a pound after reaching $1.4995, the highest since Oct. 22.
Hog futures for February settlement rose 0.2 percent to 83.65 cents a pound in Chicago.
Livestock markets: NI LVMKTS
Corn fell to a three-week low on signs of slowing overseas demand for supplies from the U.S., the world’s biggest exporter. Soybeans also dropped.
Corn futures for March delivery dropped 1.3 percent to $7.275 a bushel on the Chicago Board of Trade, after reaching $7.2525, the lowest for a most-active contract since Nov. 16. The price through Dec. 7 was down 13 percent from a record $8.49 in August.
Soybean futures for January delivery fell 0.8 percent to $14.605 a bushel in Chicago. Prices reached a record $17.89 on Sept. 4 as drought reduced U.S. production.
Grain markets: NI GRMKTS
Natural gas futures declined to a six-week low in New York on forecasts for moderate temperatures that would curb demand for the heating fuel.
Natural gas for January delivery fell 9.9 cents, or 2.8 percent, to $3.452 per million British thermal units on the New York Mercantile Exchange. Prices dropped to $3.433 per million Btu, the lowest intraday price since Oct. 29.
U.K. natural gas: NI NUKMKT Gas market: NI GASMARKET Americas natural gas: NI AGASMARKET European natural gas: NI EGASMARKET
Coffee futures fell the most in more than a week on signs of robust supplies from Brazil, the world’s top grower. Cocoa also slid, while orange juice advanced.
Arabica coffee for March delivery tumbled 3 percent to $1.493 a pound on ICE Futures U.S., heading for the biggest slide since Nov. 30.
Cocoa futures for March delivery dropped 1.2 percent to $2,384 a metric ton on ICE. Earlier, the price touched $2,372, the lowest for a most-active contract since Nov. 14.
Orange-juice futures for January delivery gained 1.4 percent to $1.2625 a pound in New York.
Soft commodities markets: NI SOMKTS
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