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Copper Declines on Chinese Growth Outlook: LME Preview

Copper dropped for first time in four days amid signs that demand growth in China, the world’s biggest user, is slowing.

Market News:

-- European equity futures dropped, Asian stocks slid the most in a week and commodities fell as reports showed corporate

-- European leaders signaled rising confidence that their

-- Asian policy makers are preparing to double a $120 billion

-- Greek voters are unlikely to give any party a workable

Metals News:

-- Japan’s copper wire and cable demand may climb 2.2 percent in

-- Goldman Sachs Group Inc. cut its so-called near-term

-- Nickel Asia Corp., the largest Philippine producer of the

-- Rio Tinto Group and BHP Billiton Ltd. are looking to exit the

Metal Prices:

-- Copper fell 0.9 percent to $8,458 a metric ton by 7:45
a.m. on the London Metal Exchange. Relative Strength Index 51.
-- Aluminum declined 0.6 percent to $2,182.75 a ton. RSI 42.
-- Zinc dropped 0.7 percent to $2,020 a ton. RSI 45.
-- Lead fell 0.3 percent to $1,980 a ton. RSI 37.
-- Nickel rose 0.5 percent to $17,860 a ton. RSI 30.
-- Tin was down 0.6 percent to $22,450 a ton. RSI 42.
Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   79.098            0.1           -1.4
Crude oil           $106.51          -0.8            7.8
Gold                $1,676.18        -0.3            7.2
MSCI World Index    1,321.31         -0.1           11.7
Economic events:
                                    Forecast    Prior     Time
                                                        (London)
Euro-Zone M3                   YoY     2.4%      2.5%       9:00
U.K. GDP                       QoQ    -0.2%     -0.2%       9:30
U.S. MBA Mortgage Applications MAR 23   --      -7.4%      12:00
U.S. Durable Goods Orders      FEB     3.0%     -3.7%      13:30

*T

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