Bloomberg News

Copper Falls on Demand Concern as Economies Slow: LME Preview

July 30, 2012

Copper dropped for a first time in five days in London on concern demand is weakening after Japan’s industrial production unexpectedly declined and before a report that may show euro-area consumer confidence fell to the lowest in almost three years.

Market News:

Metals News:

Metal Prices:

-- Copper fell 0.3 percent to $7,547 a metric ton by 7:32
a.m. on the London Metal Exchange. Relative Strength Index 50.
-- Aluminum declined 0.3 percent to $1,889 a ton. RSI 46.
-- Zinc dropped 0.8 percent to $1,843.50 a ton. RSI 49.
-- Lead fell 0.5 percent to $1,914.50 a ton. RSI 55.
-- Nickel was little-changed at $15,874 a ton. RSI 43.
-- Tin dropped 0.4 percent to $18,050 a ton. RSI 42.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   82.784            0.1            3.3
Crude oil           $90.27            0.2           -8.7
Gold                $1,618.60        -0.3            3.5
MSCI World Index    1,250.42          0.0            5.7


Economic events:
                                    Forecast    Prior     Time
                                                        (London)
Euro-Zone Consumer Confidence   JUL   -21.6     -21.6     10:00
U.S. Dallas Fed Manuf. Activity JUL     2.0       5.8     15:30





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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