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Copper Gains in London Before China’s Manufacturing: LME Preview

Copper climbed in London as a report on China’s manufacturing on Dec. 31 may add to evidence of economic growth in the world’s largest consumer of the metal.

The December reading on the purchasing managers’ index released by HSBC Holdings PLC and Markit Economics may be 50.9, up from 50.5 in November, according to the median of 14 economist estimates compiled by Bloomberg.

Market News:

-- Japan’s industrial output tumbled more than forecast to the

-- The yen weakened to the lowest since August 2010 amid

-- President Barack Obama summoned congressional leaders to a White House meeting three days before a year-end deadline to

-- Concern President Barack Obama and Congress will fail to

-- Spain will be alone in asking bond buyers for more cash next

Metals News:

-- Steel reinforcement-bar futures were set for the best quarterly performance in two years on optimism that a recovery

-- Indonesia is targeting 2013 tin output of 100,000 tons versus

Metals Prices:

-- Copper rose 0.4 percent to $7,946.75 a metric ton at 7:43
a.m. on the London Metal Exchange. Relative strength index 51.
-- Aluminum added 0.1 percent to $2,081.25 a ton. RSI 54.
-- Nickel declined 0.2 percent to $17,240 a ton. RSI 49.
-- Lead dropped 0.3 percent to $2,328.25 a ton. RSI 62.
-- Tin was unchanged at $23,400 a ton. RSI 71.
-- Zinc fell 0.5 percent to $2,091.75 a ton. RSI 62.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     79.65            0.0       -0.7
Crude Oil            $91.30            0.5       -7.6
Gold              $1,662.61           -0.1        6.3
MSCI World Index   1,337.12            0.1       13.1

Economic Events:
                                    Survey    Prior      Time
                                                       (London)
IT PPI                              -0.2%     -0.3%     09:00
US Chicago Purchasing Manager       51.0      50.4      14:45
US Pending Home Sales                1.0%      5.2%     15:00

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