Bloomberg News

Copper Down as Europe Crisis May Curb Demand: LME Preview

August 07, 2012

Copper fell for the first time in three days before reports that may show economies in Europe are slowing, dimming the outlook for industrial metals demand, and ahead of China’s factory output and inflation data.

Market News:

Metals News:

Metal Prices:

-- Copper fell 0.4 percent to $7,464 a metric ton by 7:29
a.m. on the London Metal Exchange. Relative Strength Index 47.
-- Aluminum declined 0.3 percent to $1,872.75 a ton. RSI 45.
-- Zinc dropped 0.5 percent to $1,839.75 a ton. RSI 49.
-- Lead fell 0.5 percent to $1,881 a ton. RSI 49.
-- Nickel declined 0.9 percent to $15,660 a ton. RSI 44.
-- Tin was down 0.8 percent at $17,701 a ton. RSI 41.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   82.344            0.1            2.7
Crude oil           $91.89           -0.3           -7.0
Gold                $1,610.80         0.0            3.0
MSCI World Index    1,268.38          0.0            7.3


Economic events:
                                    Forecast    Prior     Time
                                                        (London)
Italy Industrial Production MoM  JUN  -1.0%      0.8%     9:00
UK Industrial Production MoM     JUN  -3.5%      1.0%     9:30
Germany Factory Orders MoM       JUN  -0.8%      0.6%    11:00





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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