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Copper May Rise as Goldman Sees Sufficient Demand: LME Preview

Issued at 2011-08-08



Copper may rise, rebounding from the lowest level in more than a month, on speculation global growth will be sufficient to drive demand, and as Goldman Sachs Group Inc. kept its overweight recommendation on the metal.

Market News:

Metal Prices:
-- Copper rose $12, or 0.1 percent, to $9,053 a metric ton by
8:41 a.m. on the London Metal Exchange. Relative Strength Index
31.7.
-- Aluminum gained 0.2 percent to $2,407 a ton. RSI 31.6.
-- Zinc declined 0.5 percent to $2,188.25 a ton. RSI 30.2.
-- Lead slumped 1.4 percent to $2,327 a ton. RSI 24.
-- Nickel dropped 2 percent to $22,060 a ton. RSI 33.5.
-- Tin plunged 6 percent to $22,900 a ton. RSI 21.6.


Source: Shanghai Metals Market



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