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Copper Trims Weekly Gain Ahead of Bernanke Speech: LME Preview
Aug 26,2011 17:27CST
industry news
Source:SMM
Copper pared the first weekly advance in four ahead of a speech by U.S. Fed Chairman Ben Nernanke today at a meeting of central bankers amid signs of slower growth in the world's largest economy.

Aug. 26 (Bloomberg) –Copper pared the first weekly advance in four ahead of a speech by U.S. Federal Reserve Chairman Ben S. Bernanke today at a meeting of central bankers amid signs of slower growth in the world's largest economy.

Market News:

Metals News:

Metal Prices:
-- Copper fell $20, or 0.2 percent, to $9,010 a metric ton by
7:30 a.m. on the London Metal Exchange. Relative Strength Index
47.3.
-- Aluminum advanced 0.2 percent to $2,371 a ton. RSI 38.8.
-- Zinc dropped 0.6 percent to $2,214 a ton. RSI 45.8.
-- Lead fell 0.3 percent to $2,395 a ton. RSI 46.8.
-- Nickel advanced 1.3 percent to $21,111 a ton. RSI 38.6.
-- Tin gained 0.6 percent to $23,500 a ton. RSI 39.7.

Other markets:      Last           % Change   % YTD

U.S. Dollar Index   73.966          -0.4       -6.4
Crude oil           $85.35           0.1       -6.6
Gold                $1,766.88       -0.4       24.4
MSCI World Index    1,157.48         0.3       -9.6

Economic events:

                                      Forecast  Prior     Time
                                                        (London)
U.S. GDP Annualized             2Q       1.1%    1.3%     13:30
U.S. U. of Michigan Confidence AUG       55.8    54.9     14:55

 

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