Nickel Caps Third Weekly Advance on China Imports: LME Preview


Nickel, capped a third weekly gain, the longest rally this year, on signs that China, the largest consumer, boosted purchases from Indonesia before last month’s ban on shipments of unprocessed ores.

MARKET NEWS * Yen Holds Drop Amid G-20 Growth Pledge; Gold to Gas, Oil Climbed * Cooling U.S. Home Sales Only Partly Due to Bad Weather * Ukraine Leader Warns Economy in Peril Amid Cabinet Talks * WTI Crude Pares Sixth Weekly Gain on Heating Demand * Gold to Coffee Drive Bullish Bets to 17-Month High * China Downplays Yuan, Banking Risk as Zhou Sees 7% to 8% Growth

METALS NEWS * Nickel Caps Third Weekly Gain as China Bought Before Ban * Gold Resumes Rally on Signs of Weaker U.S. Growth * Copper Traders Bearish As China’s Factory Data Shows Slowdown * Vale Sees Significant Increase in Nickel Price Over Next Yr * Zinc Seen Rising 10% by Year-end as Supplies Tighten: Barclays * Trafigura Said to Pay $150 Million for Copper Smelter Stake * Rusal Sees Aluminum Deficit Driving Delivery Premium to 50%

METALS PRICES * Copper Unchanged at $7,155/mt; RSI 49 * Aluminum Down 0.1% $1,771/mt; RSI 57 * Nickel Unchanged at $14,365/mt; RSI 54 * Zinc Down 0.4% to $2,040/mt; RSI 54 * Lead Up 0.6% $2,150/mt; RSI 52 * Tin Up 0.2% to $23,140/mt; RSI 69

OTHER MARKETS * Crude Oil Down 0.7% to $102.20/bbl * Gold Up 0.1% to $1,325.76/oz * Bloomberg Dollar Spot Index Little Changed at 1,020.97 * MSCI All-Country World Index Up 0.3% to 406.40

ECONOMIC EVENTS (All Times London): * 9am Germany Ifo Business Climate Index * 10am Euro-zone Consumer Price Index * 130pm Chicago Fed National Activity Index * 330pm Dallas Fed Manufacturing Outlook