Lead Climbs in London on Growth in Automobile Sales: LME Preview

Lead was the biggest gainer of industrial metals on the London Metal Exchange as vehicle sales reports by Mazda Motor Corp. to Toyota Motor Corp. signaled growth in demand for the metal used in car batteries.

Market News:

-- Asian stocks outside of Japan rose with copper after U.S. housing and consumer sentiment data bolstered confidence in the

-- Hong Kong’s economic growth accelerated to the fastest pace

-- Lawmakers in Japan’s main opposition party said they will

-- Chinese stocks will resume this year’s rally as the

-- Orders for U.S. durable goods probably fell in January for

Metals News:

-- Shipments of rolled-aluminum products by Japanese fabricators

-- The gold-mining industry, which has underperformed the

-- India’s zinc use is expanding on growth in automotive,

-- The pace of China’s infrastructure building may slow this

Metals Prices:

-- Copper increased 0.5 percent at $7,900.25 a metric at 7:24
a.m. on the London Metal Exchange. Relative strength index 40.
-- Aluminum climbed 0.3 percent to $2,029 a ton. RSI 37
-- Nickel rose 0.6 percent to $16,750 a ton. RSI 36.
-- Lead advanced 1 percent to $2,318.75 a ton. RSI 42.
-- Tin was up 0.4 percent at $23,395 a ton. RSI 34.
-- Zinc gained 0.5 percent to $2,110.25 a ton. RSI 47.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     81.79           -0.1        2.5
Crude Oil            $92.79            0.2        1.1
Gold              $1,610.13           -0.2       -3.9
MSCI World Index   1,384.74           -0.1        3.5

Economic Events:
                                    Survey    Prior      Time
                                                       (London)

IT Economic Confidence              88.4      88.2      09:00
UK GDP                              -0.3%     -0.3%     09:30
EC Euro-Zone Consumer Confidence   -23.6     -23.6      10:00
US Durable Goods Orders             -4.7%      4.3%     13:30
US Pending Home Sales                1.8%     -4.3%     15:00
JN Industrial Production             1.5%      2.4%     23:50
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