Copper Falls on Debt Stalemate, Greece Downgrade: LME Preview

Jul. 25 (Bloomberg) –Copper fell for a fourth day in London as U.S. lawmakers failed to agree on raising the nation’s debt ceiling and Moody’s Investors Service cut Greece’s sovereign credit rating.

Market News:

Metals News:

Metal Prices:
-- Copper slid $45 to $9,630 a metric ton at 7:30 a.m. on theLondon Metal Exchange. Relative Strength Index 57.
-- Aluminum declined 0.5 percent to $2,577 a ton. RSI 54.8.
-- Zinc dropped 1.7 percent to $2,453 a ton. RSI 60.
-- Lead was little-changed at $2,687.50 a ton. RSI 53.5.
-- Nickel declined 0.8 percent to $23,790 a ton. RSI 53.8.
-- Tin fell 0.2 percent to $28,250 a ton. RSI 64.8.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   74.165          -0.1       -6.2
Crude oil           $99.06          -0.8        8.4
Gold                $1,617.95        1.0       13.9
MSCI World Index    1,346.96        -0.1        5.2

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
Chicago Fed Activity Index    JUN     -0.40      -0.37    13:30
Dallas Fed Mfg. Activity      JUL      -5.2      -17.5    15:30
Consumer Confidence Ind. Italy        104.5     105.8      9:00