Copper Pares Decline in London After China’s Output: LME Preview

Copper trimmed declines in London after a preliminary reading on China’s manufacturing signaled growth, boosting demand for industrial metals.

Market News:

-- China’s manufacturing is expanding at the fastest rate in two

-- China’s economic risks have shifted back to growing too

-- Japan’s exports fell more than analysts forecast and the

-- Barclays Plc, Britain’s second-largest bank, plans to

-- Apple Inc. tumbled after reporting the slowest profit growth

-- Japan’s deputy economy minister said that a yen at 100 to the

-- South Korea’s economy expanded less than analysts forecast in

-- Federal Reserve Chairman Ben S. Bernanke and his fellow policy makers will probably forge ahead with their unprecedented

-- Australia’s bonds are the only sovereign debt with three AAA

Metals News:

-- Gold will rally this year and into 2014 as U.S. Federal

-- Base-metal producers in Japan, the world’s third-largest

-- Copper prices will advance 7.6 percent in 2013 from last year

-- OZ Minerals Ltd., Australia’s third-biggest copper producer,

Metals Prices:

-- Copper slipped 0.2 percent to $8,087.25 a metric at 7:21 a.m.
on the London Metal Exchange. Relative strength index 54.
-- Aluminum slumped 0.6 percent to $2,062.75 a ton. RSI 48.
-- Nickel fell 0.6 percent to $17,435 a ton. RSI 51.
-- Lead declined 0.7 percent to $2,353.50 a ton. RSI 58.
-- Tin was up 0.2 percent at $24,529 a ton. RSI 60.
-- Zinc dropped 1 percent to $2,065 a ton. RSI 55.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     80.01            0.1        0.3
Crude Oil            $95.45            0.3        4.0
Gold              $1,678.95           -0.4        0.2
MSCI World Index   1,393.93            0.1        4.1

Economic Events:
                                    Survey    Prior      Time
EC PMI Manufacturing                 46.6      46.1      09:00
US Initial Jobless Claims           355K      335K       13:30
US Leading Indicators                 0.4%     -0.2%     15:00
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