Bloomberg News

Copper Declines on European Crisis Concern: LME Preview

August 24, 2012

Copper declined in London on concerns over the progress in solving Europe’s debt crisis before a meeting between German Chancellor Angela Merkel and Greek Prime Minister Antonis Samaras.

Market News:

Metals News:

Metal Prices:

-- Copper fell 0.8 percent to $7,619.75 a metric ton by 8:16
a.m. on the London Metal Exchange. Relative Strength Index 55.
-- Aluminum declined 1 percent to $1,886 a ton. RSI 51.
-- Zinc dropped 1.3 percent to $1,838 a ton. RSI 51.
-- Lead fell 0.8 percent to $1,937 a ton. RSI 57.
-- Nickel declined 1.3 percent to $16,265 a ton. RSI 58.
-- Tin dropped 0.8 percent to $19,750 a ton. RSI 66.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.493            0.2            1.6
Crude oil           $95.60           -0.7           -3.3
Gold                $1,663.15         0.5            6.4
MSCI World Index    1,282.78         -0.3            8.4


Economic events:
                                    Forecast    Prior     Time
                                                        (London)
U.K. GDP QoQ                  2Q      -0.5%      -0.7%     9:30
U.S. Durable Goods Orders     JUL      2.5%       1.3%    13:30





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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