Sunday, September 30, 2012

London copper futures outlook october 1 2012

London copper futures outlook october 1 2012 : London copper edged down on Monday on persistent worries over global economic growth after two indicators showed China's factory sector is still shrinking while concerns over Spain's banks and prospects for a bailout curbed the appetite for risk.
    * Three-month copper on the London Metal Exchange  slipped 0.38 percent to $8,174 a tonne by 0110 GMT, reversing a small advance seen the previous session.

    LME copper ended the third quarter steady from the second, despite a raft of easing measures unleashed by the U.S. Federal Reserve and the European Central bank, and targeted fine-tuning by China. Prices, in June down by more than 12 percent, have however rallied to post gains of nearly 8 percent this year.

    * The Shanghai Futures Exchange is closed this week.     * China's official factory purchasing managers' index  rose to 49.8 in September from 49.2 in August, the National Bureau of Statistics said on Monday.

    * China's economy has almost certainly suffered a seventh straight quarter of slowing growth, with a new private sector survey of factory managers revealing a near year-long decline in business activity and a fresh fall in export orders in

    * Codelco, the world's No.1 copper producer, will seek to reduce 2013 physical copper premiums to Asian buyers by about $5, while its European rate will likely be held or trimmed by a smaller amount, a source linked to the company told Reuters.

    * U.S. copper consumers have lodged a last-ditch effort to block government approval of new physically backed exchange-traded funds (ETFs), warning they would have a "devastating" effect on prices and supply.

   * The euro fell to a three-week low in early Asian trading on Monday, after an independent audit of Spain's banks failed to quell concerns about the country's progress towards a bailout needed to shore up its public finances.

     * The euro and oil prices fell on Monday as uncertainty about Spain's bailout and concerns over slumping demand due to a slowdown in global growth weighed on investor sentiment.

    * Crude oil prices rose on Friday, with Brent gaining nearly 15 percent in the third quarter, while expiring front-month U.S. gasoline futures rocketed late to rally 19 cents a gallon.

    * Japan's Nikkei average fell to a near three-week low in early trade on Monday, extending the previous session's drop, on persistent concerns over slowing global growth.
0500 India HSBC Markit Manufacturing PMI
0743 Italy Markit/ADACI Manufacturing PMI
0753 Germany Markit/BME Manufacturing PMI
0758 Euro zone Markit Manufacturing PMI
1258 U.S. Markit Manufacturing PMI
1400 U.S. ISM Manufacturing PMI
1400 U.S. Construction spending

For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

No comments:

Post a Comment