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Copper Drops on Europe Debt, China Growth Concern: LME Preview
Sep 29,2011 16:27CST
industry news
Source:SMM
Copper fell for a second day on concern that Europe’s sovereign-debt crisis and the prospects for slower growth in China will hurt demand.

Sept. 29 (Bloomberg) –Copper fell for a second day on concern that Europe’s sovereign-debt crisis and the prospects for slower growth in China will hurt demand.

Market News:

Metals News:

Metal Prices:

-- Copper dropped $205, or 2.8 percent, to $7,046 a metric
ton by 7:42 a.m. on the London Metal Exchange. Relative Strength
Index 22.6.
-- Aluminum dropped 0.9 percent to $2,214 a ton. RSI 30.7.
-- Zinc dropped 2.8 percent to $1,887 a ton. RSI 30.3.
-- Lead declined 1.3 percent to $1,982.50 a ton. RSI 32.3.
-- Nickel fell 0.6 percent to $18,400 a ton. RSI 34.
-- Tin gained 1.2 percent to $20,800 a ton. RSI 37.0.

Other markets:
                    Last           % Change   % YTD
U.S. Dollar Index   77.769          -0.4       -1.5
Crude oil           $81.33           0.1      -11
Gold                $1,622.03        0.8       14.2
MSCI World Index    1,121.79        -0.1      -12.4

Economic events:
                                      Forecast  Prior     Time
                                                        (London)
Euro-zone Consumer Confidence  SEP F     -18.9   -18.9    10:00
U.S. GDP QoQ                    2Q        1.2%    1.0%    13:30
U.S. Initial Jobless Claims    SEP 24     420K    423K    13:30


 

copper;LME preview

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