Copper Declines as Chinese Manufacturing May Contract
Copper declined to the lowest in almost two weeks after a preliminary report showed manufacturing in China, the biggest consumer, may contract for a fifth month, eroding demand prospects.
Metal Prices: -- Copper fell 0.9 percent to $8,380 a metric ton by 7:53 a.m. on the London Metal Exchange. Relative Strength Index 47. -- Aluminum declined 0.3 percent to $2,202 a ton. RSI 43. -- Zinc was down 0.1 percent to $2,018.50 a ton. RSI 43. -- Lead fell 0.9 percent to $2,025 a ton. RSI 40. -- Nickel declined 0.7 percent to $18,665 a ton. RSI 37. -- Tin dropped 1.5 percent to $22,660 a ton. RSI 37. Other Markets: Last % Change % YTD U.S. Dollar Index 79.493 -0.2 -0.9 Crude oil $106.51 -0.7 7.8 Gold $1,650.58 0.0 5.6 MSCI World Index 1,314.74 0.2 11.2 Economic events: Forecast Prior Time (London) Germany Manufacturing PMI MAR 51.0 50.2 8:30 U.S. Initial Jobless Claims MAR 17 350K 351K 12:30 U.S. House Price Index JAN 0.3% 0.7% 14:00 U.S. Leading Indicators FEB 0.6% 0.4% 14:00 Euro-Zone Consumer Confidence MAR -19.8 -20.3 15:00 To contact the reporter on this story: Maria Kolesnikova in London at email@example.com To contact the editor responsible for this story: Claudia Carpenter at firstname.lastname@example.org
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