Copper Falls as Moody's Downgrades European Nations: LME Preview

Industry News 05:16:51PM Feb 14, 2012 Source:SMM

Feb. 14 (Bloomberg) –Copper declined for a third day in London after Moody's Investors Service cut the debt ratings of six European countries, damping the region's growth and demand outlook.

Market News:

Metals News:

Metal Prices:
-- Copper fell 0.3 percent to $8,401 a metric ton by 7:38
a.m. on the London Metal Exchange. Relative Strength Index 54.
-- Aluminum declined 0.3 percent to $2,204 a ton. RSI 49.
-- Zinc dropped 0.9 percent to $2,057 a ton. RSI 49.
-- Lead fell 0.2 percent to $2,110 a ton. RSI 45.
-- Nickel declined 0.8 percent to $20,389 a ton. RSI 48.
-- Tin dropped 1.6 percent to $24,600 a ton. RSI 66.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   79.238            0.1           -1.2
Crude oil           $100.60          -0.3            1.8
Gold                $1,716.65        -0.3            9.8
MSCI World Index    1,276.58         -0.2            8.0


Economic Events:

                                    Forecast    Prior     Time
                                                        (London)
Germany ZEW Econ. Sentiment FEB      -11.8      -21.6     10:00
U.S. Advance Retail Sales   JAN       0.8%       0.1%     13:30


 

Key Words:  copper;LME preview  

Copper Falls as Moody's Downgrades European Nations: LME Preview

Industry News 05:16:51PM Feb 14, 2012 Source:SMM

Feb. 14 (Bloomberg) –Copper declined for a third day in London after Moody's Investors Service cut the debt ratings of six European countries, damping the region's growth and demand outlook.

Market News:

Metals News:

Metal Prices:
-- Copper fell 0.3 percent to $8,401 a metric ton by 7:38
a.m. on the London Metal Exchange. Relative Strength Index 54.
-- Aluminum declined 0.3 percent to $2,204 a ton. RSI 49.
-- Zinc dropped 0.9 percent to $2,057 a ton. RSI 49.
-- Lead fell 0.2 percent to $2,110 a ton. RSI 45.
-- Nickel declined 0.8 percent to $20,389 a ton. RSI 48.
-- Tin dropped 1.6 percent to $24,600 a ton. RSI 66.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   79.238            0.1           -1.2
Crude oil           $100.60          -0.3            1.8
Gold                $1,716.65        -0.3            9.8
MSCI World Index    1,276.58         -0.2            8.0


Economic Events:

                                    Forecast    Prior     Time
                                                        (London)
Germany ZEW Econ. Sentiment FEB      -11.8      -21.6     10:00
U.S. Advance Retail Sales   JAN       0.8%       0.1%     13:30


 

Key Words:  copper;LME preview