Bloomberg News

Copper Falls 2nd Day on China-Slowdown Signs: LME Preview

June 21, 2012

Copper dropped for a second day as China’s manufacturing data signaled a slowdown for an eighth month and the Federal Reserve lowered its growth outlook for the U.S. economy, worsening demand prospects from the two top consumers.

Market News:

Metals News:

Metal Prices:

-- Copper fell 1.6 percent to $7,427 a metric ton by 7:41
a.m. on the London Metal Exchange. Relative Strength Index 41.
-- Aluminum declined 0.6 percent to $1,893 a ton. RSI 20.
-- Zinc dropped 0.9 percent to $1,850 a ton. RSI 39.
-- Lead fell 1.2 percent to $1,859 a ton. RSI 35.
-- Nickel declined 1.9 percent to $16,870 a ton. RSI 49.
-- Tin fell 0.3 percent to $19,150 a ton. RSI 38.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.565           -0.0            1.7
Crude oil           $80.40           -1.3          -18.7
Gold                $1,600.73        -0.4            2.4
MSCI World Index    1,228.33         -0.1            3.9


Economic events:
                                    Forecast    Prior     Time
                                                        (London)
Germany PMI Manufacturing        JUN   45.2      45.2      8:30
EC PMI Manufacturing             JUN   44.8      45.1      9:00
U.S. Initial Jobless Claims   JUN 16   383K      386K     13:30
Euro-Zone Consumer Confidence    JUN  -20.0     -19.3     15:00
U.S. Philadelphia Fed            JUN    0.0      -5.8     15:00
U.S. Existing Home Sales         MAY   4.57M     4.62M    15:00
U.S. House Price Index  MoM      APR   0.4%      1.8%     15:00
U.S. Leading Indicators          MAY   0.1%     -0.1%     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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