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Zinc Falls for Third Day as Surplus Seen in Quarter: LME Preview

Zinc dropped for a third day in London on speculation an oversupply of the metal is building with stockpiles up 3.9 percent this year in China, the world’s largest buyer. Barclays Plc is forecasting a surplus of 161,000 metric tons for the first quarter.

Market News:

Metals News:

Metals Prices:


-- Copper slipped almost 0.1 percent to $8,240 a metric at 7:10
a.m. on the London Metal Exchange. Relative strength index 59.
-- Aluminum fell 0.3 percent to $2,092.75 a ton. RSI 53.
-- Nickel gained almost 0.1 percent to $18,335 a ton. RSI 61.
-- Lead declined 0.3 percent to $2,414.50 a ton. RSI 58.
-- Tin was up 0.2 percent at $24,887 a ton. RSI 61.
-- Zinc dropped 0.7 percent to $2,152 a ton. RSI 62.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     79.69            0.0       -0.2
Crude Oil            $96.71            0.1        5.3
Gold              $1,679.49            0.1        0.2
MSCI World Index   1,408.56            0.0        5.2

Economic Events:
                                    Survey    Prior      Time
                                                       (London)
UK Industrial Production             0.9%      0.3%      09:30
GE Industrial Production             0.2%      0.2%      11:00
UK BOE Announces Rates               0.5%      0.5%      12:00
EC ECB Announces Rates               0.75%     0.75%     12:45
US Initial Jobless Claims           360K      368K       13:30
CA Building Permits                  5.0%    -17.9%      13:30
US Consumer Credit                 $14.0B    $16.045B    20:00

To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@abloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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