Copper Falls for a Second Day on China Speculation: LME Preview

Bloomberg Jan 20---copper fell for a second day in London on speculation signs of growth in China, the world’s largest buyer, will lead the government to raise interest rates.

Metal Prices:

-- Copper fell $55, or 0.6 percent, to $9,520 a metric ton at 7:59 a.m. on the London Metal Exchange. Relative Strength Index 59.6.

-- Aluminum declined 0.4 percent to $2,420 a ton. RSI 48.5.

-- Zinc fell 0.8 percent to $2,371 a ton. RSI 49.9.

-- Lead dropped 1.2 percent to $2,502 a ton. RSI 47.6.

-- Nickel declined 0.7 percent to $25,500 a ton. RSI 58.5.

-- Tin fell 0.5 percent to $26,745 a ton. RSI 57.8.

Other markets:          Last           % Change   % YTD

U.S. Dollar Index        78.635           0.02      -0.5

Crude oil                   $90.61          -0.3       -0.8

Gold                           $1,367.10       -0.2       -3.8

MSCI World Index      1,305.1         -0.3        1.2

Economic Events:

                                                                 Forecast     Prior     Time

                                                                                                                  （London）

Canada leading indicators （MoM）        0.2%       0.3%     13:30

U.S. initial jobless claims                        420K       445K     13:30

Euro-zone consumer confidence         -12.0      -11.0     15:00

U.S. leading indicators                            0.6%       1.1%     15:00

 
hiladelphia Fed                                       20.8       20.8     15:00