Copper Slumps as Greece Euro-Exit Risk Gains: LME Preview-Shanghai Metals Market

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Copper Slumps as Greece Euro-Exit Risk Gains: LME Preview

Industry News 05:12:55PM May 23, 2012 Source:SMM

May 23 (Bloomberg) - Copper declined for the first time in four days amid concern that Greece may quit the euro region and the economy in China, the biggest metals consumer, may have the slowest growth in more than two decades.

Market News:

Metals News:

Metal Prices:
-- Copper fell 1.4 percent to $7,629.50 a metric ton by 7:38
a.m. on the London Metal Exchange. Relative Strength Index 32.
-- Aluminum declined 0.3 percent to $2,022 a ton. RSI 37.
-- Zinc dropped 1.6 percent to $1,881.25 a ton. RSI 35.
-- Lead fell 1.6 percent to $1,934.50 a ton. RSI 37.
-- Nickel declined 0.4 percent to $16,825 a ton. RSI 40.
-- Tin dropped 1 percent to $19,500 a ton. RSI 35.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.641            0.2            1.8
Crude oil           $91.12           -0.8           -7.8
Gold                $1,558.37        -0.7           -0.3
MSCI World Index    1,195.17         -0.4            1.1

Economic Events:
                                     Forecast    Prior     Time
                                                        (London)
U.S. MBA Mortgage Applications May 18    --       9.2%    12:00
U.S. House Price Index MoM     MAR      0.3%      0.3%    15:00
U.S. New Home Sales            APR      335K      328K    15:00

 

Key Words:  copper; LME preview  

Copper Slumps as Greece Euro-Exit Risk Gains: LME Preview

Industry News 05:12:55PM May 23, 2012 Source:SMM

May 23 (Bloomberg) - Copper declined for the first time in four days amid concern that Greece may quit the euro region and the economy in China, the biggest metals consumer, may have the slowest growth in more than two decades.

Market News:

Metals News:

Metal Prices:
-- Copper fell 1.4 percent to $7,629.50 a metric ton by 7:38
a.m. on the London Metal Exchange. Relative Strength Index 32.
-- Aluminum declined 0.3 percent to $2,022 a ton. RSI 37.
-- Zinc dropped 1.6 percent to $1,881.25 a ton. RSI 35.
-- Lead fell 1.6 percent to $1,934.50 a ton. RSI 37.
-- Nickel declined 0.4 percent to $16,825 a ton. RSI 40.
-- Tin dropped 1 percent to $19,500 a ton. RSI 35.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.641            0.2            1.8
Crude oil           $91.12           -0.8           -7.8
Gold                $1,558.37        -0.7           -0.3
MSCI World Index    1,195.17         -0.4            1.1

Economic Events:
                                     Forecast    Prior     Time
                                                        (London)
U.S. MBA Mortgage Applications May 18    --       9.2%    12:00
U.S. House Price Index MoM     MAR      0.3%      0.3%    15:00
U.S. New Home Sales            APR      335K      328K    15:00

 

Key Words:  copper; LME preview