Copper Falls as China Damps Stimulus Speculation: LME Preview
Copper declined for second day after China’s official Xinhua News Agency said the nation has no plans to introduce stimulus measures on the scale unleashed in 2008, damping expectations demand from the biggest consumer may recover.
Metal Prices: -- Copper fell 0.6 percent to $7,621 a metric ton by 7:40 a.m. on the London Metal Exchange. Relative Strength Index 36. -- Aluminum declined 0.1 percent to $2,015 a ton. RSI 38. -- Zinc dropped 0.8 percent to $1,899.50 a ton. RSI 40. -- Lead fell 0.7 percent to $1,932 a ton. RSI 38. -- Nickel gained 0.3 percent to $16,600 a ton. RSI 39. -- Tin dropped 0.7 percent to $20,050 a ton. RSI 43. Other Markets: Last % Change % YTD U.S. Dollar Index 82.550 0.1 2.9 Crude oil $90.32 -0.5 -8.6 Gold $1,551.11 -0.3 -0.8 MSCI World Index 1,198.70 -0.2 1.4 Economic events: Forecast Prior Time (London) Euro-zone consumer confidence MAY -19.3 -19.3 10:00 U.S. MBA Mortgage Applications MAY 25 -- 3.8% 12:00 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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