Tin Slumps as Indonesia’s Timah Restarts Sales: LME Preview

Tin dropped the most in a month in London as PT Timah, the world’s third-largest tin producer, restarted spot sales after prices surged. Copper declined on speculation improving data will deter the U.S. from new measures to boost economic growth.

Market News:

Metals News:

Metal Prices:

-- Copper fell 0.5 percent to $7,571 a metric ton by 7:41
a.m. on the London Metal Exchange. Relative Strength Index 52.
-- Aluminum declined 0.6 percent to $1,904 a ton. RSI 54.
-- Zinc dropped 0.6 percent to $1,861 a ton. RSI 55.
-- Lead fell 0.2 percent to $1,970.50 a ton. RSI 62.
-- Nickel declined 0.4 percent to $16,192 a ton. RSI 56.
-- Tin dropped 2 percent to $20,280 a ton. RSI 65.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.422            0.1            1.6
Crude oil           $95.89           -0.5           -3.0
Gold                $1,667.85         0.1            6.7
MSCI World Index    1,284.06         -0.0            8.6


Economic events:
                                    Forecast    Prior     Time
                                                        (London)
U.S. MBA Mortgage Applications AUG 24   --      -7.4%     12:00
Germany Consumer Price Index MoM  AUG   0.2%     0.4%     13:00
U.S. GDP QoQ (Annualized)          2Q   1.7%     1.5%     13:30
U.S. Personal Consumption          2Q   1.5%     1.5%     13:30
U.S. Pending Home Sales MoM       JUL   1.0%    -1.4%     15:00
U.S. Fed’s Beige Book                                     19:00





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