Copper Falls Before German Industrial Output: LME Preview
Copper declined in London before data that economists said will show industrial production dropped in Germany, stoking concern Europe’s debt crisis is hurting the region’s biggest economy and the outlook for metals demand.
Metal Prices: -- Copper fell 0.7 percent to $7,528 a metric ton by 7:31 a.m. on the London Metal Exchange. Relative Strength Index 50. -- Aluminum declined 0.7 percent to $1,896 a ton. RSI 50. -- Zinc dropped 1 percent to $1,854.75 a ton. RSI 51. -- Lead fell 0.6 percent to $1,897 a ton. RSI 51. -- Nickel declined 0.4 percent to $15,680 a ton. RSI 44. -- Tin dropped 1.3 percent to $18,025 a ton. RSI 46. Other Markets: Last % Change % YTD U.S. Dollar Index 82.343 0.2 2.7 Crude oil $93.24 -0.5 -5.7 Gold $1,608.60 -0.2 2.9 MSCI World Index 1,275.88 -0.0 7.9 Economic events: Forecast Prior Time (London) Germany Industrial Production MoM JUN -0.8% 1.6% 11:00 U.S. MBA Mortgage Applications AUG 3 -- 0.2% 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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