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Copper Extends Drop in London to Lowest Since August 2010: LME Preview
Sep 26,2011 10:39CST
industry news
Source:SMM
Copper extended declines in London to the lowest price since August 2010, and tin tumbled 12 percent as the threat of recession reduced demand for metals.

Sept. 23 (Bloomberg) –Copper extended declines in London to the lowest price since August 2010, and tin tumbled 12 percent as the threat of recession reduced demand for metals.

Market News:

Metals News:

Metals Prices:
-- Copper fell $525.75, or 6.9 percent, to $7,148.25 a metric
ton by 7:13 a.m. on the London Metal Exchange, and earlier today
dropped to $7,115.75, the lowest since Aug. 25, 2010. Relative
Strength Index 16.
-- Aluminum dropped 1.4 percent to $2,195.50 a ton. RSI 25.
-- Zinc was down 5.3 percent at $1,902 a ton. RSI 24.
-- Lead declined 4.2 percent to $2,016 a ton. RSI 26.
-- Nickel was down 8.1 percent at $17,349 a ton. RSI 25.
-- Tin tumbled 12 percent to $17,400 a ton. RSI 15.

Other markets:         Last          % Change    % YTD

U.S. Dollar Index     78.31           -0.2     -0.9
Crude Oil            $80.16           -0.5    -12.3
Gold              $1,727.95           -0.7     21.6
MSCI World Index   1,089.27            0.0    -14.9

Economic Events:
                                    Forecast     Prior     Time
                                                        (London)

IT Retail Sales                       -1.0%      -1.2%    09:00
UK BBA Loans for House Purchase     33250       33417     09:30
   
 

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