March 15 (Reuters) - Copper costs rose on Monday to the highest ranges in nearl
March 15 (Reuters) - Copper costs rose on Monday to the
highest ranges in nearly two weeks, constructing on final week's
positive factors as prime metals shopper China launched upbeat financial
exercise information and as issues over world provide resurfaced.
China's industrial output grew 35.1% in January-February
from a yr in the past, beating a 30% surge anticipated in a Reuters ballot
and sooner than the 7.3% acquire in December. [nB9N2K8028]
Three-month copper on the London Steel Trade <CMCU3> was
up 1.1% at $9,185.50 a tonne, as of 0218 GMT, after earlier
rising to $9,199.50, the strongest since March 3.
Probably the most-traded Could copper contract on the Shanghai Futures
Trade <SCFcv1> climbed 1.5% to 68,070 yuan ($10,472.79) a
tonne, after earlier hitting 68,230 yuan, additionally the very best since
March 3.
FUNDAMENTALS
* Commodities dealer Trafigura sees a major provide
deficit within the copper market and a protracted high-price cycle.
[nL1N2LA1D6]
* Miners Vale SA <VALE3.SA>, Anglo American PLc <AAL.L> and
Chile's Codelco count on demand for copper to strengthen in coming
years on rising demand for environmentally pleasant automobiles.
[nL1N2LA1WL] [nL1N2LA1RT]
* For the highest tales in metals and different information, click on
[TOP/MTL] or [MET/L]
MARKETS NEWS
* World inventory costs had been off to a stable begin whereas U.S.
bond yields hovered close to a 13-month peak on Monday as buyers
guess U.S. financial development will speed up after the passing of a
huge stimulus bundle. [MKTS/GLOB]
DATA/EVENTS (GMT)
0200 China City Funding (YTD) YY Feb
0200 China Industrial Output YY Feb
0200 China Retail Gross sales YY Feb
1100 EU Reserve Property Whole Feb
1400 Euro zone finance ministers meet
PRICES
Three month LME copper <CMCU3>
Most energetic ShFE copper <SCFcv1>
Three month LME aluminium <CMAL3>
Most energetic ShFE aluminium <SAFcv1>
Three month LME zinc <CMZN3>
Most energetic ShFE zinc <SZNcv1>
Three month LME lead <CMPB3>
Most energetic ShFE lead <SPBcv1>
Three month LME nickel <CMNI3>
Most energetic ShFE nickel <SNIcv1>
Three month LME tin <CMSN3>
Most energetic ShFE tin <SSNcv1>
(Reporting by Enrico Dela Cruz in Manila, Modifying by Sherry
Jacob-Phillips)
(([email protected]))
(( For associated information and costs, click on on the codes in brackets:
LME value overview <RING=> COMEX copper futures <0#HG:>
All metals information [MTL] All commodities information [C]
Overseas alternate charges <FX=> SPEED GUIDES <LME/INDEX>))
Key phrases: GLOBAL METALS/
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