BLBG:Copper Declines on China Demand Outlook, Europe: LME Preview
Copper dropped in London on concerns that demand in China, the world’s largest consumer, may weaken after recent price gains and as the euro fell before Europe’s leaders meet for their first summit of 2012.
Market News:
Metals News:
Metal Prices:
-- Copper fell 1.5 percent to $8,401 a metric ton at 7:41 a.m.
on the London Metal Exchange. Relative Strength Index 63.
-- Aluminum dropped 1.5 percent to $2,232.25 a ton. RSI 61.
-- Zinc declined 2.5 percent to $2,095.75 a ton. RSI 61.
-- Lead dropped 2.1 percent to $2,246 a ton. RSI 63.
-- Nickel fell 1.6 percent to $21,365 a ton. RSI 70.
-- Tin declined 1.2 percent to $24,100 a ton. RSI 78.
Other Markets:
Last % Change % YTD
U.S. Dollar Index 79.129 0.4 -1.3
Crude oil $99.98 -0.6 0.2
Gold $1,729.52 -0.6 10.6
MSCI World Index 1,245.01 -0.1 5.3
Economic events:
Forecast Prior Time
(London)
Eurozone Consumer Confidence JAN -20.6 -20.6 10:00
U.S. Personal Spending DEC 0.1% 0.1% 13:30
Japan Industrial Production MoM DEC 3.0% -2.7% 23:50
To contact the reporter on this story:
Maria Kolesnikova in London at
mkolesnikova@bloomberg.net
To contact the editor responsible for this story:
Claudia Carpenter at
ccarpenter2@bloomberg.net
