Copper may fall for a second day in London after Chinese authorities warned the country’s industrial output is likely to slow this quarter, raising concern about demand outlook for the biggest metals user.
-- Greek Prime Minister Lucas Papademos plans today to discuss
-- Glencore International Plc, the world’s largest publicly
-- China’s stocks dropped the most in eight weeks on concern economic growth is slowing, while the euro fell as Greece sought
-- China’s industrial output growth is likely to slow this
-- Australia unexpectedly kept interest rates unchanged as two
-- Declining U.S. copper stockpiles may show traders are securing the metal in anticipation of a revival in Chinese
-- Xstrata Plc, the largest exporter of power-station coal, said 2011 earnings before interest, tax, depreciation and
-- Rio Tinto Group options traders are the most bearish in more
Metal Prices: -- Copper fell 0.2 percent to $8,480 a metric ton by 7:33 a.m. on the London Metal Exchange. Relative Strength Index 61. -- Aluminum declined 0.2 percent to $2,219.75 a ton. RSI 54. -- Zinc dropped 0.2 percent to $2,126 a ton. RSI 60. -- Lead gained 0.3 percent to $2,188 a ton. RSI 53. -- Nickel declined 0.6 percent to $21,565 a ton. RSI 67. -- Tin dropped 0.7 percent to $24,330 a ton. RSI 73.
Other Markets: Last % Change % YTD U.S. Dollar Index 79.169 0.1 -1.3 Crude oil $97.18 0.3 -1.7 Gold $1,729.60 0.5 10.6 MSCI World Index 1,275.75 0.2 7.9
Economic events: Forecast Prior Time (London) Germany Ind. Production MoM DEC 0.0% -0.6% 11:00 Japan Current Account Total DEC Y340.1B Y138.5B 23:50