Copper Declines First Day in Four on European Debt Concerns: LME Preview

Jul. 20 (Bloomberg) –Copper declined for the first time in four days in London as some investors viewed recent gains as excessive amid concern the European debt crisis may slow global economic growth.

Market News:

Metals News:

Metal Prices:

-- Copper slid $46.75 to $9,793.25 a metric ton at 7:32 a.m. on
the London Metal Exchange. Relative Strength Index 66.6.
-- Aluminum was unchanged at $2,550 a ton. RSI 51.7.
-- Zinc fell 1 percent to $2,465 a ton. RSI 64.2.
-- Lead slid 0.5 percent to $2,755 a ton. RSI 63.
-- Nickel declined 0.2 percent to $24,070 a ton. RSI 58.8.
-- Tin fell 0.3 percent to $27,800 a ton. RSI 61.4.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   75.064          -0.1       -5.5
Crude oil           $98.44           1          7.7
Gold                $1,589.25        0.03      11.9
MSCI World Index    1,318.36         0.1       2.99

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
U.S. MBA Mortgage Applications        --         -5.1%    12:00
U.S. Existing Home Sales           4.90M       4.81M      15:00
U.S. Existing Home Sales MoM        1.9%       -3.8%      15:00
Eurozone Consumer Confidence        -10.2         -9.8    15:00