Nickel Advances on China’s Stainless Steel Output: LME PreviewAlex Davis
Nickel gained for the first time in four days on speculation that demand for the metal used in corrosion resistance in stainless steel will increase.
MARKET NEWS * Asian Stocks Climb With Aussie, Emerging-Market Currencies * Volcker Rule CLOs Emerge Amid 60 Percent Plunge * Hedge Funds Rework Positions in Emerging-Market Decline * Currency Market Roiled by Trader Exits Amid Lawsky Probe * WTI Trades Near 3-Day High as Distillate Stockpiles Decline
METALS NEWS * LME Boosts Its Policing Powers Against Warehouse Metal Waits * Gold Retreats From Highest in Week as Silver Advances * Platinum Wage-Strike Talks Halted After Failure on Deal * Indonesia Requires Miners to Bank 5% of Smelter Budget * China May Need 842m Tons Iron Ore Imports in 2014, UBS Says * JPMorgan Said to Pick Mercuria for Final Talks
METALS PRICES * Copper Up 0.3% to $7,056.25/t; RSI 35 * Aluminum Up 0.2% to $1,703.50/t; RSI 37 * Nickel Up 0.7% to $13,855/t; RSI 43 * Zinc Up 0.3% to $1,974/t; RSI 40 * Lead Up 0.2% to $2,102/t; RSI 40 * Tin Untraded at $22,075t; RSI 47
OTHER MARKETS: * Crude Oil Up 0.2% to $97.54/bbl * Gold Little Changed at $1,257.78/oz * Bloomberg Dollar Index Little Changed at 1,026.92 * MSCI All-Country World Index Up 0.1% to 385.73
ECONOMIC EVENTS (All Times London): * 1100am Germany Factory Orders * Noon Bank England Bank Rate * 1245pm ECB Interest Rate * 130pm US Trade Balance * 130pm US Initial Jobless Claims * 245pm US Bloomberg Consumer Comfort