Copper Prices Gain as Natural Gas Climbs: Commodities at Close
Copper rose in London as the first expansion in Chinese manufacturing in 13 months added to signs of an economic revival in the world’s biggest user of the metal.
Copper for delivery in three months gained 0.5 percent to $7,734 a metric ton on the London Metal Exchange. Aluminum, tin, nickel, zinc and lead gained.
Copper for delivery in March added 0.3 percent to $3.517 a pound on the Comex in New York.
Base metals markets: NI BMMKTS
Natural gas futures surged to the highest price since Nov. 1, 2011.
Natural gas for December delivery rose 0.6 percent to $3.925 per million British thermal units in electronic trading on the New York Mercantile Exchange. Prices reached $3.933 earlier today.
U.K. natural gas: NI NUKMKT Gas market: NI GASMARKET Americas natural gas: NI AGASMARKET European natural gas: NI EGASMARKET
Cocoa rose for a fourth day in London on signs of increasing demand from processors. White sugar and robusta coffee advanced.
Cocoa for delivery in March added 0.3 percent to 1,590 pounds ($2,537) a ton on NYSE Liffe in London. Prices are up 2.4 percent this week.
White, or refined, sugar for delivery in March rose 1 percent to $523 a ton. Robusta coffee for delivery in January advanced 0.2 percent to $1,865 a ton after declining 2.2 percent in the previous four sessions.
Soft commodities markets: NI SOMKTS
Crude futures traded near the highest level in two days in New York amid concern that a cease-fire between Israel and Hamas may not hold, putting at risk supply from the Middle East.
Crude for January delivery was at $87.11 a barrel, down 27 cents, in electronic trading on the New York Mercantile Exchange. Today’s transactions will be booked with tomorrow’s trades for settlement purposes. The contract climbed 63 cents yesterday to $87.38, the highest close since Nov. 19. Prices are down 12 percent this year.
Brent for January settlement slid 57 cents to $110.29 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $23.18 to New York- traded West Texas Intermediate grade. The spread widened for a third day yesterday to $23.48.
Oil markets: NI OILMARKET
Gold rose as central banks joined investors in adding to holdings and the euro strengthened against the dollar before regional leaders meet today.
Gold for delivery in December rose 0.2 percent to $1,730.90 an ounce in electronic trading on the Comex in New York.
Silver futures for March delivery were little-changed at $33.455 an ounce in New York.
Precious metal markets: NI PCMKTS
European Carbon Permits
European Union carbon permits for December fell 0.1 percent to 6.76 euros a ton on the ICE Futures Europe exchange.
EU Carbon Emissions: NI ECBMKT
-- With assistance from Lananh Nguyen in London. Editors: Nicholas Larkin, John Deane
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