Copper Leads Gains in Industrial Metals on China: LME Preview

Copper led industrial metals higher on speculation of more growth in China, the world’s largest buyer.

Market News:

-- European stock futures climbed amid speculation that central

-- China plans to raise its budget deficit by 50 percent this

-- Chinese Premier Wen Jiabao said the nation lacks a

-- Malaysian planes bombarded the eastern state of Sabah today

-- CME Group Inc., the world’s largest futures exchange, is

Metals News:

-- Copper is being replaced by cheaper substitutes at a faster pace as slowing economic growth prompts manufacturers and builders to save money, according to Riccardo Garre, chief

-- Glencore International Plc, seeking to buy Xstrata Plc in a

-- Xstrata Plc, the Swiss mining company whose $33 billion

-- Golden Dragon sees 2013 precision copper pipe output at 400k

-- A record wave of consolidation in China’s mining industry is

-- Billionaire Sunil Mittal’s Bharti Airtel Ltd. raised $1

Metals Prices:

-- Copper rose 1.1 percent to $7,809.50 a metric ton at 7:53
a.m. on the London Metal Exchange. Relative strength index 38.
-- Aluminum increased 0.9 percent to $1,990.50 a ton. RSI 34.
-- Nickel added 1.3 percent to $16,693 a ton. RSI 38.
-- Lead advanced 1.4 percent to $2,246.50 a ton. RSI 35.
-- Tin was up 0.8 percent at $23,550 a ton. RSI 42.
-- Zinc climbed 1.3 percent to $2,027.25 a ton. RSI 35.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     82.14           -0.1        3.0
Crude Oil            $90.38            0.3       -1.5
Gold              $1,581.81            0.5       -5.6
MSCI World Index   1,406.65            0.1        5.1

Economic Events:
                                    Survey    Prior      Time
                                                       (London)
EC PMI Composite                     47.3      47.3      09:00
EC Euro-Zone Retail Sales             0.3%     -0.9%     10:00
US ISM Non-Manf. Composite           55.0      55.2      15:00
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