Copper May Rebound on Mine Strike, China Demand: LME Preview

Aug. 2 (Bloomberg) –Copper may rebound from the biggest drop in two months as a prolonged strike at the world’s largest mine for the metal in Chile tightened global supplies, while speculation of increased imports by China boosted demand.

Market News:

Metals News:

Metal Prices:
-- Copper fell 0.1 percent to $9,640 a metric ton by 8:27 a.m.
on the London Metal Exchange. Relative Strength Index 52.7.
-- Aluminum fell 0.5 percent to $2,573 a ton. RSI 50.2.
-- Zinc declined 0.7 percent to $2,443 a ton. RSI 54.3.
-- Lead was little-changed at $2,563.50 a ton. RSI 39.7.
-- Nickel fell 0.4 percent to $24,458 a ton. RSI 58.5.
-- Tin fell 1.4 percent to $27,705 a ton. RSI 52.5.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   74.342           0.1       -5.9
Crude oil           $94.55          -0.4        3.5
Gold                $1,623.70        0.3       14.3
MSCI World Index    1,295.11        -0.2        1.2

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)
Personal Income               JUN       0.2%      0.3%    13:30
U.S. Personal Spending        JUN       0.1%      0.0%    13:30
Total Vehicle Sales           JUL     11.80M    11.41M    22:00
Domestic Vehicle Sales        JUL       9.2M     8.95M    22:00