Copper Drops in London as China's Property Market May Slow: LME Preview

Copper fell in London on speculation China may take steps to cool the property market, reducing demand for metals. Zinc, lead and nickel declined.

Market News:

Metals News:

Metal Prices:

-- Copper fell $41.50, or 0.5 percent, to $7,613.50 a metric ton

on the London Metal Exchange at 7:24 a.m. Relative Strength

Index 58.5.

-- Aluminum declined 0.7 percent to $2,146.25 a ton. RSI 55.

-- Zinc fell 1.3 percent to $2,146 a ton. RSI 54.2.

-- Lead declined 0.6 percent to $2,230 a ton. RSI 61.1.

-- Nickel fell 0.2 percent to $23,300 a ton. RSI 65.1.

-- Tin gained 1.6 percent to $22,650 a ton. RSI 69.6.

Other markets:      Last           % Change   % YTD

U.S. Dollar Index   81.525          0.38       4.7

Crude oil           $76.33         -0.6       -3.8

Gold                $1,269.4        0.1       15.7

MSCI World Index    1,157.6        -0.05      -0.9

Economic Events:

                                    Forecast      Prior     Time

                                                        （London）

Italy CPI （MoM）                       0.2%         0.2%     9:00

UK jobless claims change             -3.0K        -3.8K     9:30

Eurozone CPI （MoM）                    0.2%        -0.3%    10:00

U.S. industrial production            0.2%         1.0%    14:15