Copper Advances After China’s Manufacturing Expands: LME Preview

Copper advanced in London after an industry report signaled manufacturing is expanding in China, the world’s largest buyer of industrial metals.

Market News:

-- The yen fell to an almost 3-year low, Japanese bond yields

-- China’s manufacturing is expanding at the slowest pace in

-- China’s ruling party is planning to keep Zhou Xiaochuan as

-- Five years after their record-setting leveraged buyout of Energy Future Holdings Corp., KKR & Co. and TPG Capital are

-- Hedge funds cut bets on a rally in gold by the most since 2007 and became the most bearish ever on sugar and coffee as

-- President Barack Obama’s administration released a state-by-state report on how $85 billion in automatic spending cuts will

Metals News:

-- Zinc-processing fees will probably rise almost 10 percent

-- BlackRock Inc. won U.S. regulatory approval for an exchange-

-- BHP Billiton Ltd., the world’s biggest mining company, said

-- Steel reinforcement-bar futures traded near a one-month low

-- Tropical cyclone Rusty is expected this week to slam into the

Metals Prices:

-- Copper advanced 0.7 percent at $7,859 a metric at 6:57
a.m. on the London Metal Exchange. Relative strength index 36.
-- Aluminum retreated 0.2 percent to $2,044 a ton. RSI 39.
-- Nickel declined 0.3 percent to $16,930 a ton. RSI 37.
-- Lead advanced 0.1 percent to $2,305 a ton. RSI 38.
-- Tin was up 0.2 percent at $23,140 a ton. RSI 27.
-- Zinc fell 0.1 percent to $2,085 a ton. RSI 40.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     81.54            0.1        2.2
Crude Oil            $93.06           -0.1        1.3
Gold              $1,585.73            0.3       -5.4
MSCI World Index   1,402.83            0.1        4.8

Economic Events:
                                    Survey    Prior      Time

UK BBA Loans for House Purchase      34000   33636       09:30
US Chicago Fed Nat Activity Index     --      0.02       13:30
US Dallas Fed Manf. Activity           3.0    5.5        15:30
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