MF Global Daily Report: Base Metals (Sept. 8, 2011)

Sept. 8 (MF Global) -- This market comment was written at 8:35 a.m. on September 7th, US east coast time...

Metals slipped lost modest ground yesterday, as the stronger dollar and lingering concern about the European debt situation continued to weigh on the markets. Threats of strikes kept the losses in copper somewhat in check, but could not dispel the selling entirely. Global stock markets continued to fall on Tuesday, although the Dow pared the bulk of its almost 300 point decline to close with a 100 point loss, possibly on relief that the August ISM service number came in somewhat stronger than expected. The report continues to underline the recent trend of macro numbers showing relative resilience in the US economy, with housing and the labor sector being the glaring exceptions.