BLBG:Copper Gains as Stockpiles Decline on China Buying: LME Preview
Copper advanced as Chinese buying continued to draw down Asian inventories in warehouses monitored by the London Metal Exchange.
Market News:
Metals News:
Metal Prices:
-- Copper rose $45.50, or 0.5 percent, to $8,875.50 a metric ton
by 8 a.m. on the London Metal Exchange. Relative Strength
Index 38.9.
-- Aluminum advanced 0.3 percent to $2,382 a ton. RSI 33.1.
-- Zinc jumped 1 percent to $2,204 a ton. RSI 40.3.
-- Lead rose 1 percent to $2,380 a ton. RSI 40.4.
-- Nickel advanced 0.3 percent to $21,756 a ton. RSI 39.2.
-- Tin declined 0.2 percent to $24,100 a ton. RSI 38.4.
Other markets: Last % Change % YTD
U.S. Dollar Index 74.001 0.0 -6.4
Crude oil $87.39 0.9 -4.4
Gold $1,788.80 0.2 25.9
MSCI World Index 1,196.66 0.0 -6.5
Economic events:
Forecast Prior Time
(London)
U.S. MBA Mortgage Applications AUG 12 -- 21.7% 12:00
U.S. Producer Price Index 0.1% -0.4% 13:30
To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net
