Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Copper Gains in London After China’s Exports Surge: LME Preview

Feb. 8 (Bloomberg) -- Copper rose for the first time in four days after China’s total exports surged 25 percent last month, signaling more demand from the world’s largest buyer of industrial metals.

Market News:

-- China’s exports and imports rose more than estimated in a January that had five more working days than last year, helping sustain a growth rebound in the world’s second-biggest economy. {NSN MHW0WY1A1I4I <go>}

-- From free hand pouches at Coach Inc. to discounts on flat-screen televisions at Gome Electrical Appliances Holding Ltd., retailers are dangling promotions to lure Chinese shoppers during next week’s Lunar New Year holiday. {NSN MHW0896TTDUZ <go>}

-- Asian stocks outside Japan rose with commodities and Australia’s dollar erased declines after China’s trade data beat estimates. Japanese shares fell as Sony Corp. reported an unexpected loss. {NSN MHVZBC1A1I4H <go>}

-- European Union leaders prepared the first-ever cuts in the bloc’s budget, bowing to U.K. Prime Minister David Cameron’s insistence on thrift at the EU level. {NSN MHW02V0D9L39 <go>}

-- The era of rapid labor-force growth led by younger and growing populations -- reflected in the so-called demographic dividend -- is coming to an end around the world, according to UBS AG. {NSN MHVAIH0UQVI8 <go>}

-- Japan posted back-to-back monthly current-account deficits for the first time since 1981, highlighting challenges for Prime Minister Shinzo Abe’s campaign to revive the economy. {NSN MHVQOO6K5167 <go>}

Metals News:

-- Glencore International Plc, the largest publicly traded commodities supplier, is considering a stock-market listing in South Africa to tap the country’s investor base, according to a person familiar with the situation. {NSN MHVFTL6S9728 <go>}

-- Rusal sees global aluminium demand up 6% to 50m tons in 2013. {nsn MHVM6C6JIJUY <GO>}

-- Rio Tinto Group will resume talks with Mongolia this month to resolve concerns that spending at their jointly owned Oyu Tolgoi mining project is overshooting and the country isn’t benefiting enough from the development. {NSN MHVMZE6K50YV <go>}

-- Steel reinforcement-bar futures in Shanghai climbed, poised for a fourth weekly gain, before week-long Lunar New Year holidays and as China’s exports rose more than estimated in January. {NSN MHVTH70UQVI9 <go>}

Metals Prices:


-- Copper added 0.4 percent to $8,235.75 a metric at 7:20
a.m. on the London Metal Exchange. Relative strength index 59.
-- Aluminum climbed 0.3 percent to $2,105.75 a ton. RSI 56.
-- Nickel advanced 0.3 percent to $18,227 a ton. RSI 58.
-- Lead rose 0.5 percent to $2,421.50 a ton. RSI 58.
-- Tin was up 0.2 percent at $24,720 a ton. RSI 57.
-- Zinc gained 0.3 percent to $2,169 a ton. RSI 66.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     80.13           -0.1        0.5
Crude Oil            $96.10            0.3        4.7
Gold              $1,671.60            0.0       -0.2
MSCI World Index   1,401.30            0.0        4.7

Economic Events:
                                    Survey    Prior      Time
                                                       (London)
IT Industrial Production             0.3%     -1.0%     09:00
US Trade Balance                  -$46.0B   -$48.7B     13:30
US Wholesale Inventories             0.4%      0.6%     15:00

To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@abloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.