Copper May Fall as China Inflation May Limit Easing: LME Preview

Industry News 04:56:28PM Feb 09, 2012 Source:SMM

Feb. 9 (Bloomberg) –Copper may decline in London after a report showing inflation in China, the biggest metals user, unexpectedly accelerated in January, limiting room for monetary easing and as talks over a Greek bailout stalled.

Market News:

Metals News:

Metal Prices:
-- Copper fell 0.1 percent to $8,568.50 a metric ton by 7:55
a.m. on the London Metal Exchange. Relative Strength Index 63.
-- Aluminum gained 0.1 percent to $2,256 a ton. RSI 58.
-- Zinc dropped gained 0.4 percent to $2,123 a ton. RSI 59.
-- Lead gained 0.3 percent to $2,188 a ton. RSI 53.
-- Nickel declined 0.7 percent to $21,350 a ton. RSI 62.
-- Tin dropped 0.8 percent to $25,200 a ton. RSI 76.


Other Markets:

                     Last           % Change       % YTD
U.S. Dollar Index   78.487           -0.3           -2.1
Crude oil           $99.12            0.4            0.3
Gold                $1,736.27         0.2           11.0
MSCI World Index    1,281.95          0.1            8.4

Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
BOE Announces Interest Rates          0.50%      0.50%    12:00
ECB Announces Interest Rates          1.00%      1.00%    12:45
U.S. Initial Jobless Claims   FEB 4   370K       367K     13:30

 

Key Words:  copper;LME preview  

Copper May Fall as China Inflation May Limit Easing: LME Preview

Industry News 04:56:28PM Feb 09, 2012 Source:SMM

Feb. 9 (Bloomberg) –Copper may decline in London after a report showing inflation in China, the biggest metals user, unexpectedly accelerated in January, limiting room for monetary easing and as talks over a Greek bailout stalled.

Market News:

Metals News:

Metal Prices:
-- Copper fell 0.1 percent to $8,568.50 a metric ton by 7:55
a.m. on the London Metal Exchange. Relative Strength Index 63.
-- Aluminum gained 0.1 percent to $2,256 a ton. RSI 58.
-- Zinc dropped gained 0.4 percent to $2,123 a ton. RSI 59.
-- Lead gained 0.3 percent to $2,188 a ton. RSI 53.
-- Nickel declined 0.7 percent to $21,350 a ton. RSI 62.
-- Tin dropped 0.8 percent to $25,200 a ton. RSI 76.


Other Markets:

                     Last           % Change       % YTD
U.S. Dollar Index   78.487           -0.3           -2.1
Crude oil           $99.12            0.4            0.3
Gold                $1,736.27         0.2           11.0
MSCI World Index    1,281.95          0.1            8.4

Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
BOE Announces Interest Rates          0.50%      0.50%    12:00
ECB Announces Interest Rates          1.00%      1.00%    12:45
U.S. Initial Jobless Claims   FEB 4   370K       367K     13:30

 

Key Words:  copper;LME preview