Copper Extends Advance to Record in London on U.S. Expansion: LME Preview

Copper climbed to a record for a fourth consecutive session in London before reports on U.S. factory orders and car sales that may add to signs of expansion in the world’s largest economy.

Market News:

-- Australian manufacturing contracted in December for a fourth month as higher borrowing costs curbed consumer spending and the nation’s currency surged to a record, eroding export earnings.

Metal Prices:

-- Copper climbed $70, or 0.7 percent, to $9,670 a metric ton by 7:16 a.m. on the London Metal Exchange and earlier today climbed to an-time high of $9,728. Relative Strength Index 75.

-- Aluminum advanced 0.2 percent to $2,475 a ton. RSI 64

-- Zinc fell 0.6 percent to $2,440 a ton. RSI 63.

-- Lead increased 0.8 percent to $2,571 a ton. RSI 65.

-- Nickel gained 1.1 percent to $25,015 a ton. RSI 61.

-- Tin was unchanged at $26,900 a ton. RSI 62.

Other markets:      Last           % Change   % YTD

U.S. Dollar Index    79.24             0.1      0.4

Crude oil            $89.70            0.0      0.2

Gold               $1,409.57           0.1     -0.4

MSCI World Index    1,287.93           0.0      0.6

Economic Events:

                                    Forecast     Prior     Time（London）

U.S. Factory Orders                  -0.1%        -0.9     15:00

U.S. Total Vehicle Sales             12.3M       12.26M    22:00