Copper Falls as China Damps Stimulus Speculation: LME Preview-Shanghai Metals Market

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Copper Falls as China Damps Stimulus Speculation: LME Preview

Industry News 04:46:27PM May 30, 2012 Source:SMM

May 30 (Bloomberg) - Copper declined for second day after China’s official Xinhua News Agency said the nation has no plans to introduce stimulus measures on the scale unleashed in 2008, damping expectations demand from the biggest consumer may recover.

Market News:

Metals News:

Metal Prices:
-- Copper fell 0.6 percent to $7,621 a metric ton by 7:40
a.m. on the London Metal Exchange. Relative Strength Index 36.
-- Aluminum declined 0.1 percent to $2,015 a ton. RSI 38.
-- Zinc dropped 0.8 percent to $1,899.50 a ton. RSI 40.
-- Lead fell 0.7 percent to $1,932 a ton. RSI 38.
-- Nickel gained 0.3 percent to $16,600 a ton. RSI 39.
-- Tin dropped 0.7 percent to $20,050 a ton. RSI 43.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   82.550            0.1            2.9
Crude oil           $90.32           -0.5           -8.6
Gold                $1,551.11        -0.3           -0.8
MSCI World Index    1,198.70         -0.2            1.4

Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
Euro-zone consumer confidence  MAY    -19.3     -19.3     10:00
U.S. MBA Mortgage Applications MAY 25   --       3.8%     12:00


 

Key Words:  copper; LME preview  

Copper Falls as China Damps Stimulus Speculation: LME Preview

Industry News 04:46:27PM May 30, 2012 Source:SMM

May 30 (Bloomberg) - Copper declined for second day after China’s official Xinhua News Agency said the nation has no plans to introduce stimulus measures on the scale unleashed in 2008, damping expectations demand from the biggest consumer may recover.

Market News:

Metals News:

Metal Prices:
-- Copper fell 0.6 percent to $7,621 a metric ton by 7:40
a.m. on the London Metal Exchange. Relative Strength Index 36.
-- Aluminum declined 0.1 percent to $2,015 a ton. RSI 38.
-- Zinc dropped 0.8 percent to $1,899.50 a ton. RSI 40.
-- Lead fell 0.7 percent to $1,932 a ton. RSI 38.
-- Nickel gained 0.3 percent to $16,600 a ton. RSI 39.
-- Tin dropped 0.7 percent to $20,050 a ton. RSI 43.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   82.550            0.1            2.9
Crude oil           $90.32           -0.5           -8.6
Gold                $1,551.11        -0.3           -0.8
MSCI World Index    1,198.70         -0.2            1.4

Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
Euro-zone consumer confidence  MAY    -19.3     -19.3     10:00
U.S. MBA Mortgage Applications MAY 25   --       3.8%     12:00


 

Key Words:  copper; LME preview