Bloomberg News

Copper Seen Falling on Europe-Crisis Concern: LME Preview

September 04, 2012

Copper was poised to decline for the first time in three days after the European Union’s outlook was cut to negative by Moody’s Investors Service before meetings of the region’s policy makers today.

Market News:

Metals News:

Metal Prices:

-- Copper fell 0.3 percent to $7,654.25 a metric ton by 8:11
a.m. on the London Metal Exchange. Relative Strength Index 56.
-- Aluminum gained 0.2 percent to $1,930.50 a ton. RSI 59.
-- Zinc dropped 0.6 percent to $1,863.75 a ton. RSI 55.
-- Lead fell 0.3 percent to $1,993 a ton. RSI 63.
-- Nickel was little-changed at $16,233 a ton. RSI 56.
-- Tin dropped 0.5 percent to $19,699 a ton. RSI 57.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.127           -0.1            1.2
Crude oil           $97.13            0.7           -1.7
Gold                $1,694.20         0.1            8.3
MSCI World Index    1,280.84          0.0            8.3


Economic events:
                                    Forecast    Prior     Time
                                                        (London)
U.S. ISM Manufacturing          AUG   50.0      49.8      15:00
U.S. Construction Spending MoM  JUL   0.4%      0.4%      15:00
U.S. Total Vehicle Sales        AUG   14.20M    14.05M    22:00






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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