Bloomberg News

Copper Declines as Data Signals a Slowdown: LME Preview

July 02, 2012

Copper fell in London amid concerns global metals demand may be waning after China’s manufacturing slipped to a seven-month low and ahead of reports that may show factory activity in the euro-area contracted and U.S. manufacturing grew at a slower pace.

Market News:

Metals News:

Metal Prices:

-- Copper fell 0.8 percent to $7,624.75 a metric ton by 8:17
a.m. on the London Metal Exchange. Relative Strength Index 54.
-- Aluminum declined 0.3 percent to $1,906 a ton. RSI 43.
-- Zinc dropped 0.4 percent to $1,870 a ton. RSI 51.
-- Lead gained 0.2 percent to $1,865 a ton. RSI 47.
-- Nickel declined 0.1 percent to $16,712 a ton. RSI 49.
-- Tin rose 0.1 percent to $18,800 a ton. RSI 40.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.787            0.2            2.0
Crude oil           $83.74           -1.5          -15.3
Gold                $1,591.95        -0.3            1.8
MSCI World Index    1,235            -0.1            4.4


Economic events:
                                    Forecast    Prior     Time
                                                        (London)
France Manufacturing PMI      JUN    45.3        45.3      8:50
Germany Manufacturing PMI     JUN    44.7        44.7      8:55
EC PMI Manufacturing          JUN    44.8        44.8      9:00
U.S. ISM Manufacturing        JUN    52.0        53.5     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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