Metals News
Copper Slips As Europe Troubles Prompt Shift to Dollar
industry news

KUALA LUMPUR, Jan 9 (Reuters) - Copper slipped on Monday, reversing gains in the previous session, as concerns over slowing growth in the euro zone strengthened the U.S. dollar, making commodities priced in the unit more expensive in other currencies.   
Three-month copper on the London Metal Exchange fell 0.4 percent to $7,550 a tonne by 0108 GMT, after an increase of 0.5 percent on Friday.   

The most-traded March copper contract on the Shanghai Futures Exchange slipped 0.4 percent to 55,690 yuan ($8,800) a tonne.
Following a year of tumultuous highs and lows, copper prices are expected to improve from the depressed levels at the end of 2011 and steady in 2012, as the market begins to balance rising demand by addressing supply shortfalls.    

Speculators in copper further reduced bearish bets in the red metal to the lowest level since the second week of November, while speculators raised long exposure in silver, latest data from the U.S. Commodity Futures Trading Commission showed.
Markets News   

The euro came under pressure first thing in Asia on Monday, reaching 16-month lows versus the greenback and an 11-year trough on the yen following a slew of negative news from the euro zone over the weekend.
U.S. stocks rose in the first week of 2012, even though news that the U.S. jobless rate neared a three-year low did not whet interest in equities on Friday.    
1100  Germany   Industrial output mm   Nov 2011      
1500  U.S.      Employment trends      Dec            
2000  U.S.      Consumer credit        Nov 2011  
2100            Alcoa earnings         Q4 2011       
  Base metals prices at 0108 GMT
  Metal              Last       Change   Pct Move YTD pct chg
  LME Cu            7550.00    -30.00     -0.40     -0.66
  SHFE CU FUT MAR2    55690      -210     -0.38      0.60
  HG COPPER MAR2     342.45     -0.95     -0.31     -0.33
  LME Alum          2061.00     -8.00     -0.39      2.03
  SHFE AL FUT MAR2    15935        00     +0.00      0.57
  LME Zinc          1855.75      2.75     +0.15      0.58
  SHFE ZN FUT MAR2    14730        00     +0.00     -0.44
  LME Nickel       18601.00    -99.00     -0.53     -0.58
  LME Lead          1967.00      8.00     +0.41     -3.34
  SHFE PB FUT      15200.00    -75.00     -0.49     -0.56
  LME Tin          19850.00      0.00     +0.00      3.39
  LME/Shanghai arb^      40
   Shanghai and COMEX contracts show most active months
   ^ LME 3-month copper in yuan, including 17 pct VAT, minus SHFE third month
 ($1 = 6.3095 Chinese yuan)   

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