Home / Metal News / Nickel / Copper Plunges Below $7,000 on Debt Crisis Concern: LME Preview
Copper Plunges Below $7,000 on Debt Crisis Concern: LME Preview
Sep 27,2011 10:32CST
industry news
Source:SMM
Copper on the London Metal Exchange plunged below $7,000 a metric ton, to the lowest since July 2010, on speculation Europe’s debt crisis will worsen, curbing demand for raw materials.

Sept. 26 (Bloomberg) –Copper on the London Metal Exchange plunged below $7,000 a metric ton, to the lowest since July 2010, on speculation Europe’s debt crisis will worsen, curbing demand for raw materials.

Market News:

Metals News:

Metal Prices:

-- Copper dropped $507.25, or 6.9 percent, to $6,852.25 a metric
ton by 7:41 a.m. on the London Metal Exchange. Relative Strength
Index 13.81.
-- Aluminum declined 2.2 percent to $2,156 a ton. RSI 21.9.
-- Zinc dropped 4.6 percent to $1,822 a ton. RSI 21.2.
-- Lead plunged 5.9 percent to $1,840 a ton. RSI 20.9.
-- Nickel fell 6.1 percent to $17,150 a ton. RSI 24.5.
-- Tin dropped 7.7 percent to $18,650 a ton. RSI 20.3.

Other markets:
                    Last           % Change   % YTD

U.S. Dollar Index   78.801           0.4       -0.3
Crude oil           $77.17          -3.4      -15.6
Gold                $1,551.53       -6.4        9.1
MSCI World Index    1,087.83        -0.7      -15.0

Economic events:
                                      Forecast  Prior     Time
                                                        (London)
Germany IFO Business Climate     SEP    106.5    108.7     9:00
Italy Consumer Confidence Ind.   SEP     98.5    100.3     9:00
U.S. New Home Sales              AUG     294K    298K     15:00

 

copper

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news