Copper Falls as Europe Crisis May Hurt China Demand: LME Preview

Industry News 04:50:25PM Feb 06, 2012 Source:SMM

Feb. 6 (Bloomberg) --Copper dropped after the International Monetary Fund said economic expansion in China, the biggest metals consumer, will be cut almost in half if Europe’s debt crisis worsens.

Market News:

Metals News:

Metal Prices:

-- Copper fell 0.3 percent to $8,542 a metric ton by 7:52
a.m. on the London Metal Exchange. Relative Strength Index 63.
-- Aluminum gained 0.4 percent at $2,255 a ton. RSI 59.
-- Zinc was little changed at $2,154 a ton. RSI 64.
-- Lead rose 0.2 percent to $2,230 a ton. RSI 58.
-- Nickel fell 0.4 percent to $21,230 a ton. RSI 64.
-- Tin dropped 0.9 percent to $24,180 a ton. RSI 72.


Other Markets:

                     Last           % Change       % YTD
U.S. Dollar Index   79.289            0.4           -1.1
Crude oil           $97.33           -0.5           -1.5
Gold                $1,731.13         0.3           10.7
MSCI World Index    1,274.39          0.1            7.8


Economic Events:

                                    Forecast    Prior     Time
                                                        (London)
EC Sentix Investor Confidence   FEB   -15.0    -21.1        9:30
Germany factory orders MoM      DEC    1.0%    -4.8%       11:00



 

Key Words:  copper;LME preview  

Copper Falls as Europe Crisis May Hurt China Demand: LME Preview

Industry News 04:50:25PM Feb 06, 2012 Source:SMM

Feb. 6 (Bloomberg) --Copper dropped after the International Monetary Fund said economic expansion in China, the biggest metals consumer, will be cut almost in half if Europe’s debt crisis worsens.

Market News:

Metals News:

Metal Prices:

-- Copper fell 0.3 percent to $8,542 a metric ton by 7:52
a.m. on the London Metal Exchange. Relative Strength Index 63.
-- Aluminum gained 0.4 percent at $2,255 a ton. RSI 59.
-- Zinc was little changed at $2,154 a ton. RSI 64.
-- Lead rose 0.2 percent to $2,230 a ton. RSI 58.
-- Nickel fell 0.4 percent to $21,230 a ton. RSI 64.
-- Tin dropped 0.9 percent to $24,180 a ton. RSI 72.


Other Markets:

                     Last           % Change       % YTD
U.S. Dollar Index   79.289            0.4           -1.1
Crude oil           $97.33           -0.5           -1.5
Gold                $1,731.13         0.3           10.7
MSCI World Index    1,274.39          0.1            7.8


Economic Events:

                                    Forecast    Prior     Time
                                                        (London)
EC Sentix Investor Confidence   FEB   -15.0    -21.1        9:30
Germany factory orders MoM      DEC    1.0%    -4.8%       11:00



 

Key Words:  copper;LME preview