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Copper Falls in London as Stockpiles Expand: LME Preview
Jun 20,2012 17:09CST
industry news
Source:SMM
Copper declined on speculation that stockpiles in Shanghai may snap 10 weeks of losses and as inventories in LME warehouses advanced to the highest level in almost two months.

Jun. 20 (Bloomberg) - Copper declined on speculation that stockpiles in Shanghai may snap 10 weeks of losses and as inventories in London Metal Exchange warehouses advanced to the highest level in almost two months.

Market News:

Metals News:

Metal Prices:
-- Copper fell 0.5 percent to $7,570 a metric ton by 8:03 a.m.
on the London Metal Exchange. Relative Strength Index 47.
-- Aluminum declined 0.2 percent to $1,923 a ton. RSI 24.
-- Zinc fell 0.2 percent to $1,895 a ton. RSI 47.
-- Lead gained 0.1 percent to $1,914.50 a ton. RSI 43.
-- Nickel was down 0.2 percent at $17,064 a ton. RSI 52.
-- Tin declined 0.2 percent to $19,500 a ton. RSI 42.

Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.402            0.0            1.5
Crude oil           $84.03            0.0          -15.0
Gold                $1,619.03         0.0            3.5
MSCI World Index    1,229.32          0.2            4.0

Economic Events:
                                    Forecast    Prior     Time
                                                        (London)
U.S. MBA Mortgage Applications JUN 15   --       18.0%    12:00
U.S. FOMC Rate Decision                 0.25%    0.25%    17:30

 

LME copper preview

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