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Copper Declines on Chinese Demand Concerns: LME Preview
Mar 20,2012 17:34CST
industry news
Source:SMM
Copper declined on concerns that high inventories in Shanghai won’t be absorbed any time soon amid slowing growth in the world’s second-largest economy.

Mar. 20 (Bloomberg) - Copper declined on concerns that high inventories in Shanghai won’t be absorbed any time soon amid slowing growth in the world’s second-largest economy.

Market News:

Metals News:

Metal Prices:
-- Copper fell 0.5 percent to $8,527 a metric ton by 7:56
a.m. on the London Metal Exchange. Relative Strength Index 54.
-- Aluminum declined 0.4 percent to $2,265 a ton. RSI 52.
-- Zinc dropped 0.3 percent to $2,072 a ton. RSI 50.
-- Lead fell 0.5 percent to $2,094.75 a ton. RSI 45.
-- Nickel declined 0.5 percent to $18,950 a ton. RSI 41.
-- Tin dropped 0.1 percent to $23,570 a ton. RSI 51.

Other Markets:

                     Last           % Change       % YTD
U.S. Dollar Index   79.527            0.1           -0.8
Crude oil           $107.31          -0.7            8.6
Gold                $1,654.18        -0.6            5.6
MSCI World Index    1,324.3          -0.1           12.0


Economic Events:

                                    Forecast    Prior     Time
                                                        (London)
U.S. Housing Starts      FEB          700K      699K      12:30
U.S. Building Permits    FEB          686K      682K      12:30

 

copper; LME preview

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