Copper Falls to 10-Month Low in London on U.S., China, Europe: LME Preview

Sept. 22 (Bloomberg) –Copper fell to a 10-month low in London after a China factory index signaling contraction added to speculation of slowing metals demand as the Federal Reserve said U.S. economic growth remains slow and Europe cuts back.

Market News:

Metals News:

Metals Prices:
-- Copper fell $275.50, or 3.3 percent, to $8,024.50 a metric ton by 7:48 a.m. on the London Metal Exchange, and earlier today dropped to $8,010, the lowest since Nov. 17. Relative Strength Index 25. -- Aluminum dropped 1.1 percent to $2,292.75 a ton. RSI 33. -- Zinc was down 1.3 percent at $2,049 a ton. RSI 33. -- Lead declined 0.5 percent to $2,210 a ton. RSI 35. -- Nickel was down 0.8 percent at $20,239 a ton. RSI 39. -- Tin tumbled 5.1 percent to $20,540 a ton. RSI 23.

Other markets: Last % Change % YTD

U.S. Dollar Index 77.90 0.7 -1.4 Crude Oil $84.50 -1.6 -7.5 Gold $1,776.32 -0.3 25.0 MSCI World Index 1,128.16 -0.8 -11.9

Economic Events:

Forecast Prior Time
(London)

EC PMI Manufacturing 48.5 49.0 09:00 US Initial Jobless Claims 420K 428K 13:30 EC Eurozone Consumer Confidence -18.0 -16.5 15:00 US Leading Indicators 0.1% 0.5% 15:00 US House Price Index 0.1% 0.9% 15:00