Copper Drops on China Demand Concern, Europe Debt: LME Preview

Dec.19 (Bloomberg) --Copper dropped for the first day in three in London on speculation demand in China, the biggest consumer, may slow and as European finance ministers prepared to discuss the region’s debt crisis.

Market News:

Metals News:

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Metal Prices:
-- Copper fell $75, or 1 percent, to $7,270 a metric ton by 7:32
a.m. on the London Metal Exchange. Relative Strength
Index 40.1.
-- Aluminum declined 1.2 percent to $1,981 a ton. RSI 38.3.
-- Zinc dropped 0.5 percent to $1,858 a ton. RSI 39.8.
-- Lead fell 1.4 percent to $1,933 a ton. RSI 37.7.
-- Nickel declined 1.6 percent to $18,250 a ton. RSI 51.7.
-- Tin was unchanged at $18,800 a ton. RSI 33.6.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   80.312            0.1            1.6
Crude oil           $92.83           -0.8            1.6
Gold                $1,593.32        -0.3           12.2
MSCI World Index    1,142.81         -0.3          -10.7


Economic Events:
                                      Forecast  Prior     Time
                                                        (London)
EC Construction output MoM     OCT      --        -1.3%   10:00
U.S. NAHB Housing Market Index DEC      20          20    15:00