While equity markets got off to a mixed start this week, commodity prices advanced this morning as the DJ-UBS Commodity Futures Index gained 0.9% on the back of a better than expected reading on Chinese manufacturing and weaker U.S. dollar. In London, LME official 3-mo. copper and aluminum asking prices firmed this morning to $7,365.50/mt (=$3.34/lb) and $1,919.50/mt (=87 cents/lb.) respectively. LME 3-mo. nickel reportedly traded as high as $15,600/mt (=$7.08/lb.) amid reports of nickel purchases by China’s SRB before settling back below $15,200/mt in PM trading. In New York, COMEX Jul copper was up around 4 cents to $3.33/lb. in early afternoon trading while crude oil and gold futures rose to over $93/bbl and $1,413/to, respectively. On Wall Street, the Dow Industrials were up 0.4% in mid-day trading while the Nasdaq and S&P 500 were in negative territory following losses at the major bourses in Asia and Europe earlier today. In foreign exchange trading, the dollar weakened to $1.309 vs. the Euro and 99.2 Japanese Yen following the release of a worse than expected reading U.S. manufacturing for May…
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