Copper Falls for Second Day as Oil May Slow Growth: LME Preview-Shanghai Metals Market

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Copper Falls for Second Day as Oil May Slow Growth: LME Preview

Industry News 09:42:46AM Mar 08, 2011 Source:SMM

Mar.7 (Bloomberg) --Copper fell for a second day in London on speculation gains in oil prices will curb economic growth, slowing industrial metals demand.

-- Copper fell $40, or 0.4 percent, to $9,855 a metric ton by 7:59 a.m. on the London Metal Exchange. Relative Strength Index 54. -- Aluminum dropped 0.1 percent to $2,596 a ton. RSI 61. -- Zinc gained 50 cents to $2,461.50 a ton. RSI 49. -- Lead declined 0.4 percent to $2,620 a ton.

RSI 56. -- Nickel was 0.2 percent lower at $28,753 a ton. RSI 57. -- Tin retreated 0.9 percent to $31,600 a ton. RSI 56.
Other markets: Last % Change % YTD

U.S. Dollar Index 76.41 0.0 -3.3 Crude Oil $106.35 1.8 16.3 Gold $1,436.55 0.4 1.1 MSCI World Index 1,345.47 -0.2 5.1
copper price      
 


 

Copper Falls for Second Day as Oil May Slow Growth: LME Preview

Industry News 09:42:46AM Mar 08, 2011 Source:SMM

Mar.7 (Bloomberg) --Copper fell for a second day in London on speculation gains in oil prices will curb economic growth, slowing industrial metals demand.

-- Copper fell $40, or 0.4 percent, to $9,855 a metric ton by 7:59 a.m. on the London Metal Exchange. Relative Strength Index 54. -- Aluminum dropped 0.1 percent to $2,596 a ton. RSI 61. -- Zinc gained 50 cents to $2,461.50 a ton. RSI 49. -- Lead declined 0.4 percent to $2,620 a ton.

RSI 56. -- Nickel was 0.2 percent lower at $28,753 a ton. RSI 57. -- Tin retreated 0.9 percent to $31,600 a ton. RSI 56.
Other markets: Last % Change % YTD

U.S. Dollar Index 76.41 0.0 -3.3 Crude Oil $106.35 1.8 16.3 Gold $1,436.55 0.4 1.1 MSCI World Index 1,345.47 -0.2 5.1
copper price