BLBG: Copper Falls in London Trading Before U.S. Factory Orders: LME Preview
Copper fell for a second day in London before a U.S. factory orders report that economists say will show the biggest drop since October, heightening speculation of slowing demand for industrial metals.
Market News:
Metals News:
Metals Prices:
-- Copper fell $52.50, or 0.6 percent, to $9,049.50 a metric ton
by 8:29 a.m. on the London Metal Exchange. Relative Strength
Index 48.
-- Aluminum dropped 1.1 percent to $2,639.25 a ton. RSI 54.
-- Zinc was down 0.8 percent at $2,238 a ton. RSI 51.
-- Lead declined 1.2 percent to $2,469 a ton. RSI 49.
-- Nickel dropped 1.2 percent to $22,978 a ton. RSI 39.
-- Tin lost 1.1 percent to $27,300 a ton. RSI 38.
Other markets: Last % Change % YTD
U.S. Dollar Index 74.74 0.1 -5.4
Crude Oil $99.46 -0.8 8.8
Gold $1,540.85 0.1 8.5
MSCI World Index 1,329.49 -0.5 3.9
Economic Events:
Forecast Prior Time
(London)
UK PMI Construction 53.5 53.3 09:30
US Initial Jobless Claims 417K 424K 13:30
US Factory Orders -1.0% 3.4% 15:00
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.
