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Copper Declines on China Demand Speculation: LME Preview

Copper declined in London on speculation demand in China, the world’s biggest consumer of industrial metals, may slow as signaled by declining imports.

Market News:

-- Asian stocks rose, with the regional benchmark index headed for its first advance in five days, as South Korean consumer

-- China’s economic performance still faces downward pressure

-- Orders for U.S. durable goods excluding transportation

-- The U.S. housing market is showing more signs of

-- Japan’s central bank is set to ante up on stimulus measures

Metals News:

-- Goldman Sachs Group Inc. said it maintained a neutral outlook

-- Aluminum demand in China is expected to grow 11 percent this

Metal Prices:

*T

-- Copper fell 0.4 percent to $8,121 a metric ton by 6:47 a.m. on the London Metal Exchange. Relative Strength Index 45.6. -- Aluminum gained 0.2 percent to $2,086.25 a ton. RSI 42.7. -- Zinc rose 0.1 percent to $2,003.25 a ton. RSI 48.1. -- Lead climbed 0.3 percent to $2,077.75 a ton. RSI 51. -- Nickel gained 0.8 percent to $17,540 a ton. RSI 41.9. -- Tin fell 0.4 percent to $21,600 a ton. RSI 42.5.

Other markets: Last % Change % YTD

U.S. Dollar Index 79.218 0.0 -1.2 Crude Oil $103.69 0.1 4.9 Gold $1,641.48 -0.1 5 MSCI World Index 1,271.84 0.0 7.6

Economic events:

Forecast Prior Time

(London) U.S. Durable Goods Orders MARCH -1.7% 2.4% 13:30 Durables ex-transportation MARCH 0.5% 1.8% 13:30 FOMC Rate Decision 0.25% 0.25% 17:30

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