2315 GMT [Dow Jones] COMMODITY SUMMARY: LME copper jumps 4.6%, reacting to another LME stock fall. Economic news remain bearish, with copper outflows likely linked to Chinese copper demand. Citigroup analyst David Thurtell says jumps in canceled warrants for copper, other metals tend to augur price surges; LME canceled copper warrants up by 14,500 tons Tuesday, LME copper warehouse stocks down 5,800 tons. 'I suspect the moves are closely linked to the Chinese Strategic Reserve Bureau buying...both copper and zinc. As a net importer of both metals, if the SRB steps up purchases, metal will tend to flow out of LME warehouses, or at least not flow in at quite the same rate.' LME 3-month copper ended +$155 vs PM kerb at $3,539/ton, aluminum down $3 at $1,315, lead up $47 at $1,075, zinc up $33 at $1,134, nickel up $150 at $9,650, tin up $175 at $10,850. Spot gold fell to near 1-month low of $905.70/oz from around $925, with participants still liquidating gold positions to raise cash in response to equity market rut; DJIA again lower, sets 12-year trough. Spot gold last at $915.45, down 35 cents, silver at $12.81, down 2 cents, platinum at $1,031.50, up 50 cents, palladium at $190.50, down $1.50. Nymex April crude futures down 9 cents at $41.56/bbl.(EFB)

Source