Copper Falls for Second Day after Rally to Record: LME Preview-Shanghai Metals Market

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Copper Falls for Second Day after Rally to Record: LME Preview

Industry News 09:32:27AM Dec 16, 2010 Source:SMM

Dec. 15 (Bloomberg) --Copper declined for a second day as some investors sold the metal to lock in gains after it climbed to a record yesterday.

-- Copper fell $36, or 0.4 percent, to $9,129 a metric ton
at 7:25 a.m. on the London Metal Exchange. Relative Strength
Index 66.3.
-- Aluminum declined 0.2 percent to $2,347 a ton. RSI 52.7.
-- Zinc dropped 1 percent to $2,278 a ton. RSI 51.2.
-- Lead fell 1.6 percent to $2,410 a ton. RSI 53.4.
-- Nickel declined 0.4 percent to $24,296 a ton. RSI 59.6.
-- Tin dropped 1.2 percent to $25,940 a ton. RSI 56.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   79.773           0.4        2.5
Crude oil           $87.65          -0.7         10
Gold                $1,390.45       -0.4         27
MSCI World Index    1,264.7         -0.2        8.2

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
U.S. MBA mortgage applications         --        -0.9%     12:00
U.S. consumer price index              0.2%       0.2%     13:30
U.S. empire manufacturing              5.00      11.14     13:30
U.S. industrial production             0.3%       0.0%     14:15

      

 

 

 


 

Copper Falls for Second Day after Rally to Record: LME Preview

Industry News 09:32:27AM Dec 16, 2010 Source:SMM

Dec. 15 (Bloomberg) --Copper declined for a second day as some investors sold the metal to lock in gains after it climbed to a record yesterday.

-- Copper fell $36, or 0.4 percent, to $9,129 a metric ton
at 7:25 a.m. on the London Metal Exchange. Relative Strength
Index 66.3.
-- Aluminum declined 0.2 percent to $2,347 a ton. RSI 52.7.
-- Zinc dropped 1 percent to $2,278 a ton. RSI 51.2.
-- Lead fell 1.6 percent to $2,410 a ton. RSI 53.4.
-- Nickel declined 0.4 percent to $24,296 a ton. RSI 59.6.
-- Tin dropped 1.2 percent to $25,940 a ton. RSI 56.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   79.773           0.4        2.5
Crude oil           $87.65          -0.7         10
Gold                $1,390.45       -0.4         27
MSCI World Index    1,264.7         -0.2        8.2

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
U.S. MBA mortgage applications         --        -0.9%     12:00
U.S. consumer price index              0.2%       0.2%     13:30
U.S. empire manufacturing              5.00      11.14     13:30
U.S. industrial production             0.3%       0.0%     14:15