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Copper Climbs in London After China’s Services Data: LME Preview

Copper climbed in London after a report on China’s services added to evidence of economic growth in the world’s largest consumer of the metal.

Market News:

-- Asian stocks outside of Japan rose to a 17-month high and U.K. index futures advanced as expansion in China’s services

-- Japan’s Finance Minister Taro Aso met with Myanmar’s

Metals News:

-- Tin may rally about 12 percent this quarter to $27,300 a

-- The $1.1-billion purchase of a stake in ArcelorMittal’s

-- Jonathan Barratt, chief executive officer of Barratt’s

- Manappuram Finance Ltd. surged the most in more than two years

Metals Prices:

-- Copper climbed 0.1 percent to $8,220 a metric ton at 7:44
a.m. on the London Metal Exchange. Relative strength index 65.
-- Aluminum added 0.8 percent to $2,179 a ton. RSI 68.
-- Nickel rose 0.9 percent to $17,864 a ton. RSI 61.
-- Lead advanced 1.7 percent to $2,471.75 a ton. RSI 76.
-- Tin was down 0.2 percent at $24,400 a ton. RSI 78.
-- Zinc gained 1.8 percent to $2,178 a ton. RSI 70.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     79.98            0.2        0.3
Crude Oil            $92.92           -0.2        1.2
Gold              $1,687.45            0.0        0.7
MSCI World Index   1,365.24           -0.2        2.0

Economic Events:
                                    Survey    Prior      Time
                                                       (London)

UK PMI Construction                  49.5     49.3      09:30
US MBA Mortgage Applications         --       --        12:00
US ADP Employment Change            140K     118K       13:15
US Initial Jobless Claims           360K     350K       13:30
US Total Vehicle Sales              15.3M    15.46M     22:00

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