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Copper Drops as China, Europe Dim Demand Outlook: LME Preview
Oct 19,2011 17:19CST
industry news
Source:SMM
Copper declined for a third day in London on speculation that the slowing Chinese economy and deepening debt crisis in Europe may curb global demand for the metal used in wires and cables.

Oct. 19 (Bloomberg) –Copper declined for a third day in London on speculation that the slowing Chinese economy and deepening debt crisis in Europe may curb global demand for the metal used in wires and cables.

Market News:

Metals News:

Metal Prices:

-- Copper fell $108, or 1.5 percent, to $7,340 a metric
ton at 7:51 a.m. on the London Metal Exchange. Relative Strength
Index 42.
-- Aluminum was little changed at $2,208 a ton. RSI 42.
-- Zinc dropped 1 percent to $1,862.50 a ton. RSI 37.
-- Lead gained 0.5 percent to $1,935 a ton. RSI 38.
-- Nickel dropped 1 percent to $18,950 a ton. RSI 46.
-- Tin fell 0.2 percent to $21,300 a ton. RSI 43.

Other Markets:
Last % Change % YTD U.S. Dollar Index 76.92 -0.3 -2.7 Crude oil $88.31 0.0 -3.4 Gold $1,653.68 -0.3 16.4 MSCI World Index 1,181.34 0.3 -7.7

Economic events:
                                      Forecast  Prior     Time
                                                        (London)
U.S. MBA Mortgage Applications   OCT 14   --     1.3%     12:00
U.S. Consumer Price Index MoM       SEP   0.3%   0.4%     13:30
U.S. Housing Starts                 SEP   590K   571K     13:30
U.S. Fed Beige Book                                       19:00
 

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