Copper Falls as Greece’s Rescue Package Is Delayed: LME Preview-Shanghai Metals Market

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Copper Falls as Greece’s Rescue Package Is Delayed: LME Preview

Industry News 05:34:05PM Feb 10, 2012 Source:SMM

Feb. 10 (Bloomberg) –Copper declined as European finance ministers held back a rescue package for Greece, fueling concerns that Europe’s sovereign-debt crisis may curb global economic growth.

Market News:

Metals News:

Metal Prices:

-- Copper fell 1.1 percent to $8,662 a metric ton by 7:57
a.m. on the London Metal Exchange. Relative Strength Index 63.
-- Aluminum declined 0.8 percent to $2,270 a ton. RSI 60.
-- Zinc dropped 0.8 percent to $2,141.75 a ton. RSI 60.
-- Lead fell 0.5 percent to $2,210 a ton. RSI 55.
-- Nickel declined 0.6 percent to $21,400 a ton. RSI 62.
-- Tin was down 0.4 percent at $25,300 a ton. RSI 76.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   78.781            0.2           -1.7
Crude oil           $99.21           -0.6            0.4
Gold                $1,719.40        -0.6            10
MSCI World Index    1,277.82         -0.5            8


Economic Events:

                                    Forecast    Prior     Time
                                                        (London)
U.S. Trade Balance DEC                -$48.5B  -$47.8B    13:30
U.S. Univ. of Michigan Confidence FEB  74.8      75.0     14:55
U.S. Monthly Budget Statement     JAN -$34.0B  -$49.8B    19:00


 

Key Words:  copper;LME preview  

Copper Falls as Greece’s Rescue Package Is Delayed: LME Preview

Industry News 05:34:05PM Feb 10, 2012 Source:SMM

Feb. 10 (Bloomberg) –Copper declined as European finance ministers held back a rescue package for Greece, fueling concerns that Europe’s sovereign-debt crisis may curb global economic growth.

Market News:

Metals News:

Metal Prices:

-- Copper fell 1.1 percent to $8,662 a metric ton by 7:57
a.m. on the London Metal Exchange. Relative Strength Index 63.
-- Aluminum declined 0.8 percent to $2,270 a ton. RSI 60.
-- Zinc dropped 0.8 percent to $2,141.75 a ton. RSI 60.
-- Lead fell 0.5 percent to $2,210 a ton. RSI 55.
-- Nickel declined 0.6 percent to $21,400 a ton. RSI 62.
-- Tin was down 0.4 percent at $25,300 a ton. RSI 76.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   78.781            0.2           -1.7
Crude oil           $99.21           -0.6            0.4
Gold                $1,719.40        -0.6            10
MSCI World Index    1,277.82         -0.5            8


Economic Events:

                                    Forecast    Prior     Time
                                                        (London)
U.S. Trade Balance DEC                -$48.5B  -$47.8B    13:30
U.S. Univ. of Michigan Confidence FEB  74.8      75.0     14:55
U.S. Monthly Budget Statement     JAN -$34.0B  -$49.8B    19:00


 

Key Words:  copper;LME preview