Bloomberg News

Copper Drops to Three-Month Low on Demand Outlook: LME Preview

April 16, 2012

Copper declined to the lowest level in three months after the cost of insuring against a Spanish default climbed and China’s economy grew less than expected in the first quarter, spurring demand concerns.

Market News:

Metals News:

Metal Prices:

-- Copper fell 1.2 percent to $7,894.75 a metric ton by 7:57
a.m. on the London Metal Exchange. Relative Strength Index 36.
-- Aluminum was down 0.2 percent at $2,066.25 a ton. RSI 34.3.
-- Zinc fell 0.2 percent to $1,979.75 a ton. RSI 43.2.
-- Lead dropped 1.4 percent to $2,036.75 a ton. RSI 46.7.
-- Nickel declined 1.9 percent to $17,968 a ton. RSI 43.3
-- Tin dropped 1.4 percent to $21,900 a ton. RSI 38.7.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   80.123            0.3           -0.1
Crude oil           $101.96          -0.8            3.2
Gold                $1,645.51        -0.8            5.2
MSCI World Index    1,264.76         -0.3            7.0


Economic events:
                                    Forecast    Prior     Time
                                                        (London)
U.S. Empire Manufacturing      APR    18.00     20.21     13:30
U.S. Advance Retail Sales      MAR     0.3%      1.1%     13:30
U.S. NAHB Housing Market Index APR      28        28      15:00





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




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