BLBG:Copper Extends Drop in London to Lowest Since August 2010: LME Preview
Copper extended declines in London to the lowest price since August 2010, and tin tumbled 12 percent as the threat of recession reduced demand for metals.
Market News:
Metals News:
Metals Prices:
-- Copper fell $525.75, or 6.9 percent, to $7,148.25 a metric
ton by 7:13 a.m. on the London Metal Exchange, and earlier today
dropped to $7,115.75, the lowest since Aug. 25, 2010. Relative
Strength Index 16.
-- Aluminum dropped 1.4 percent to $2,195.50 a ton. RSI 25.
-- Zinc was down 5.3 percent at $1,902 a ton. RSI 24.
-- Lead declined 4.2 percent to $2,016 a ton. RSI 26.
-- Nickel was down 8.1 percent at $17,349 a ton. RSI 25.
-- Tin tumbled 12 percent to $17,400 a ton. RSI 15.
Other markets: Last % Change % YTD
U.S. Dollar Index 78.31 -0.2 -0.9
Crude Oil $80.16 -0.5 -12.3
Gold $1,727.95 -0.7 21.6
MSCI World Index 1,089.27 0.0 -14.9
Economic Events:
Forecast Prior Time
(London)
IT Retail Sales -1.0% -1.2% 09:00
UK BBA Loans for House Purchase 33250 33417 09:30
To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@abloomberg.net
To contact the editor responsible for this story: Claudia Carpenter at ccarpenter@bloomberg.net.
