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

Aluminum Climbs to Highest in Six Weeks Before U.S. Data, G-20

Feb. 15 (Bloomberg) -- Aluminum advanced for a fourth session, set for a weekly gain, ahead of data that may show a continued expansion in U.S. industrial output and as Group of 20 finance chiefs meet today in Moscow. Industrial metals rose.

Aluminum for delivery in three months on the London Metal Exchange gained as much as 0.6 percent to $2,169 a metric ton, the highest since Jan. 3, and traded at $2,167.50 at 5:10 p.m. in Seoul. The price is up 2.3 percent this week. Copper rose 0.2 percent to $8,258 a ton, trimming its weekly loss to 0.4 percent.

Data on industrial production later today is forecast to show a third-straight month of expansion. U.S. claims for jobless benefits were less than forecast last week. U.S. economic growth will accelerate every quarter this year to a median 2.7 percent in the final three months, according to 87 estimates compiled by Bloomberg.

“The U.S. industrial production data will probably show growth is sustained,” Lelia Kim, a metals trader at Seoul-based Tong Yang Securities Inc., said by phone today. “Investors also expect uncertainties in the broader financial markets to be eased after the G-20 meeting, although we can’t expect any specific policy measures.”

Copper futures for delivery in May increased 0.3 percent to $3.7635 a pound on the Comex in New York. Financial markets in China, the biggest consumer of the metal, were closed this week for the Lunar New Year.

To contact the reporter on this story: Sungwoo Park in Seoul at spark47@bloomberg.net

To contact the editor responsible for this story: Brett Miller at bmiller30@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.