Copper Declines as Chinese Export Orders Drop: LME Preview

Sept. 1 (Bloomberg) –Copper declined in London as export orders fell for the first time in two years in China, the world’s biggest metals consumer.

Market News:

Metals News:

Metal Prices:
-- Copper fell $70, or 0.8 percent, to $9,205 a metric ton by
7:43 a.m. on the London Metal Exchange. Relative Strength Index
53.5.
-- Aluminum advanced 0.2 percent to $2,473.25 a ton. RSI 56.
-- Zinc declined 1.4 percent to $2,260.50 a ton. RSI 50.5.
-- Lead fell 0.8 percent to $2,560 a ton. RSI 59.
-- Nickel declined 0.2 percent to $22,150 a ton. RSI 51.1.

Other markets:
                    Last           % Change   % YTD


U.S. Dollar Index   74.2             0.1       -6.1
Crude oil           $89.09           0.3       -2.5
Gold                $1,817.13       -0.5       27.9
MSCI World Index    1,211.87         0.1       -5.3


Economic events:

                                      Forecast  Prior     Time
                                                        (London)
U.S. Initial Jobless Claims  AUG 27     410K    417K      13:30
U.S. Construction Spending MoM  JUL     0.2%    0.2%      15:00
U.S. ISM Manufacturing          AUG     48.5    50.9      15:00
U.S. Total Vehicle Sales        AUG     12.1M   12.2M     22:00