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""Copper in London Climbs to Four-Month High as Industrial Metals Rally

By Bloomberg News - Jan 19, 2012 12:50 PM GMT+1000

Copper rose to the highest level in four months on better-than-expected U.S. data and signs of credit easing in China, which boosted the demand outlook from the largest user. Other base metals also advanced.

Three-month delivery copper gained for a fourth day, climbing as much as 1.6 percent to $8,372 a metric ton on the London Metal Exchange, the highest level since Sept. 21, before trading at $8,332.50 by 10:19 a.m. Shanghai time. The metal for March-delivery on the Comex in New York climbed as much as 1.5 percent to a four-month high of $3.8085 per pound.

“Overall market sentiment is a lot better than a couple of weeks ago, without further negative surprises from Europe,” Lian Zheng, an analyst at Xinhu Futures Co., said by phone from Shanghai. “With better U.S. data and the expectation for some sort of easing in China, copper is now targeting $8,500.”

China’s banking regulator is weighing a plan to relax capital requirements for lenders, delaying implementing the most stringent capital adequacy ratios, and may lower risk weightings for loans to small companies, four people with knowledge of the matter said.

Copper for April-delivery on the Shanghai Futures Exchange gained 1.7 percent to 60,460 yuan ($9,578) a ton.

The International Monetary Fund is aiming to raise its lending capacity by as much as $500 billion after identifying a potential need for $1 trillion in financing in coming years. U.S. factory output climbed the most in December, the most in a year, while homebuilder confidence rose to the highest level in more than four years.""


http://www.bloomberg.com/news/2012-01-19/copper-in-london-climbs-to-four-month-high-as-industrial-metals-rally.html