Copper Falls for Third Day in London on Fighting in Libya: LME Preview-Shanghai Metals Market

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Copper Falls for Third Day in London on Fighting in Libya: LME Preview

Industry News 09:38:03AM Mar 09, 2011 Source:SMM

Mar.8 (Bloomberg) --Copper fell for a third day in London on speculation fighting in Libya will slow economies, curbing demand for industrial metals.

-- Copper fell $80, or 0.8 percent, to $9,419 a metric ton by 7:59 a.m. on the London Metal Exchange. Relative Strength Index 39.
-- Aluminum dropped 0.2 percent to $2,553 a ton. RSI 52.
-- Zinc declined 1.3 percent to $2,340 a ton. RSI 37.
-- Lead decreased 1.7 percent to $2,537 a ton. RSI 47.
-- Nickel tumbled 2.5 percent to $26,803 a ton. RSI 40.
-- Tin retreated 2.4 percent to $30,000 a ton. RSI 40.

Other markets:         Last          % Change    % YTD

U.S. Dollar Index     76.48            -0.1     -3.2
Crude Oil           $104.15            -1.2     13.9
Gold              $1,427.98            -0.3      0.5
MSCI World Index   1,336.90            -0.2      4.4

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
GE Factory Orders                    2.5%       -3.4%     11:00
US NFIB Small Business Optimism      95         94.1      12:30
JN Machine Orders                    3.0%        1.7%     23:50
 

Copper Falls for Third Day in London on Fighting in Libya: LME Preview

Industry News 09:38:03AM Mar 09, 2011 Source:SMM

Mar.8 (Bloomberg) --Copper fell for a third day in London on speculation fighting in Libya will slow economies, curbing demand for industrial metals.

-- Copper fell $80, or 0.8 percent, to $9,419 a metric ton by 7:59 a.m. on the London Metal Exchange. Relative Strength Index 39.
-- Aluminum dropped 0.2 percent to $2,553 a ton. RSI 52.
-- Zinc declined 1.3 percent to $2,340 a ton. RSI 37.
-- Lead decreased 1.7 percent to $2,537 a ton. RSI 47.
-- Nickel tumbled 2.5 percent to $26,803 a ton. RSI 40.
-- Tin retreated 2.4 percent to $30,000 a ton. RSI 40.

Other markets:         Last          % Change    % YTD

U.S. Dollar Index     76.48            -0.1     -3.2
Crude Oil           $104.15            -1.2     13.9
Gold              $1,427.98            -0.3      0.5
MSCI World Index   1,336.90            -0.2      4.4

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
GE Factory Orders                    2.5%       -3.4%     11:00
US NFIB Small Business Optimism      95         94.1      12:30
JN Machine Orders                    3.0%        1.7%     23:50