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Copper Advances in New York Before U.S. Home Sales: LME Preview

Copper futures rose for a second day in New York before a U.S. government report on new home sales that economists said probably rose in November to the highest level in more than two years.

Market News:

-- Asian stocks rose for a third day and the yen dropped to a 27-month low on speculation Japan will step up stimulus to

-- China’s economic rebound is uneven, with improvements in retailing, real estate and mining countered by rising

-- Chinese industrial companies’ profits rose for a third month

-- The Philippines intensified efforts to contain a surging

-- Mitch McConnell, the Senate minority leader who has stayed

-- The first customers Michael Guarino saw after superstorm

Metals News:

-- Iron ore is rallying the most in about two years as analysts

-- Steel reinforcement-bar futures climbed to the highest level

-- The record glut in aluminum will be no bar to rising prices because of delays in getting metal from warehouses, even as

Metals Prices:

-- Copper rose 1.6 percent to $7,932 a metric ton at 7:23 a.m.
on the London Metal Exchange. Relative strength index 50. New
York futures were up 0.3 percent on the Comex.
-- Aluminum added 0.9 percent to $2,094.75 a ton. RSI 56.
-- Nickel advanced 0.7 percent to $17,417 a ton. RSI 52.
-- Lead gained 0.2 percent to $2,325.75 a ton. RSI 63.
-- Tin was up 0.5 percent at $23,400 a ton. RSI 71.
-- Zinc climbed 1.2 percent to $2,092.75 a ton. RSI 64.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     79.56           -0.1       -0.8
Crude Oil            $91.13            0.2       -7.8
Gold              $1,656.75           -0.2        6.0
MSCI World Index   1,337.41            0.1       13.1

Economic Events:
                                    Survey    Prior      Time
IT Business Confidence                88.8      88.5    09:00
US Jobless Claims                    360K      361K     13:30
US Consumer Confidence                70.0      73.7    15:00
US New Home Sales                      3.3%     -0.3%   15:00
JN Industrial Production              -0.5%      1.6%   23:50

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