Copper Falls in London on Speculation China's Demand May Slow: LME Preview-Shanghai Metals Market

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Copper Falls in London on Speculation China's Demand May Slow: LME Preview

Industry News 09:25:58AM Mar 02, 2011 Source:SMM

Mar.1 (Bloomberg) --Copper fell in London on speculation that demand may slow in China, the largest user, because of high international prices.

-- Copper fell $44, or 0.5 percent, to $9,841 a metric ton by 8:03 a.m. on the London Metal Exchange. Relative Strength Index 53.
-- Aluminum dropped 0.5 percent to $2,587 a ton. RSI 61.
-- Zinc declined 0.3 percent to $2,512 a ton. RSI 55.
-- Lead retreated 0.5 percent to $2,550 a ton. RSI 50.
-- Nickel was 0.3 percent lower at $28,900 a ton. RSI 60.
-- Tin decreased 0.7 percent to $32,100 a ton. RSI 65.

Other markets:         Last          % Change    % YTD

U.S. Dollar Index     76.89             0.1     -2.7
Crude Oil            $97.54             0.6      6.7
Gold              $1,415.00             0.3     -0.4
MSCI World Index   1,353.66             0.2      5.8

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
US Construction Spending            -0.4%       -2.5%    15:00
US ISM Manufacturing                61          60.8     15:00
US Total Vehicle Sales              12.6M       12.54M   22:00

 

 

Copper Falls in London on Speculation China's Demand May Slow: LME Preview

Industry News 09:25:58AM Mar 02, 2011 Source:SMM

Mar.1 (Bloomberg) --Copper fell in London on speculation that demand may slow in China, the largest user, because of high international prices.

-- Copper fell $44, or 0.5 percent, to $9,841 a metric ton by 8:03 a.m. on the London Metal Exchange. Relative Strength Index 53.
-- Aluminum dropped 0.5 percent to $2,587 a ton. RSI 61.
-- Zinc declined 0.3 percent to $2,512 a ton. RSI 55.
-- Lead retreated 0.5 percent to $2,550 a ton. RSI 50.
-- Nickel was 0.3 percent lower at $28,900 a ton. RSI 60.
-- Tin decreased 0.7 percent to $32,100 a ton. RSI 65.

Other markets:         Last          % Change    % YTD

U.S. Dollar Index     76.89             0.1     -2.7
Crude Oil            $97.54             0.6      6.7
Gold              $1,415.00             0.3     -0.4
MSCI World Index   1,353.66             0.2      5.8

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
US Construction Spending            -0.4%       -2.5%    15:00
US ISM Manufacturing                61          60.8     15:00
US Total Vehicle Sales              12.6M       12.54M   22:00