DJ BASE METALS: Comex Copper Seen 8 Cents Higher At Pit Open
NEW YORK (Dow Jones)--December copper futures are expected to open floor
trading around 8 cents higher Thursday, based on electronic activity ahead of
the pit session on the Comex division of the New York Mercantile Exchange.
In overnight activity, base metals extended this week's rally Thursday on the
London Metal Exchange, as the dollar continued to weaken against the euro and
equities climbed higher.
Recently in other markets that have the potential to impact metals in the
short term, the euro is up to $1.4756. In screen trading ahead of the pit open,
the December S&P 500 futures are up 8.7 points. November crude is up 72 cents.
U.S. economic reports on Thursday include:
-- Oct. 3 jobless claims at 8:30 a.m. EDT (1230 GMT), with weekly jobless
claims expected down 11,000 at 540,000;
-- August wholesale trade inventories at 10 a.m. EDT (1400 GMT), expected
down 1%.
Inventories of copper stored in London Metal Exchange warehouses fell 300
metric tons Thursday, leaving them at 346,850. The most recent Comex inventory
data, released late Wednesday, were up 514 short tons at 54,483 short tons.
