Copper Declines on European Debt Crisis Concerns: LME Preview

Sept. 14 (Bloomberg) –Copper slumped, reversing an earlier advance, as concern over Europe’s sovereign-debt crisis outweighed labor disputes that could reduce global supply.

Market News:

Metals News:

Metal Prices:
-- Copper fell $102, or 1.2 percent, to $8,668 a metric
ton by 7:53 a.m. on the London Metal Exchange. Relative Strength
Index 37.3.
-- Aluminum declined 0.5 percent to $2,358 a ton. RSI 40.7.
-- Zinc dropped 1 percent to $2,172 a ton. RSI 42.8.
-- Lead fell 0.9 percent to $2,368.75 a ton. RSI 43.5.
-- Nickel declined 1.2 percent to $21,055 a ton. RSI 44.1.
-- Tin was down 1.7 percent at $23,250 a ton. RSI 39.8.

Other markets:
                    Last           % Change   % YTD

U.S. Dollar Index   77.357           0.4       -2.1
Crude oil           $88.79          -1.6       -2.9
Gold                $1,829.98       -0.2       28.8
MSCI World Index    1,130.54        -0.4      -12.0

Economic events:
                                      Forecast  Prior     Time
                                                        (London)
Euro-zone Ind. Production MoM     JUL   1.5%    -0.8%     10:00
U.S. MBA Mortgage Applications  SEPT 9  --      -4.9%     12:00
U.S. Producer Price Index MoM     AUG   0.0%     0.2%     13:30
U.S. Advance Retail Sales         AUG   0.2%     0.5%     13:30