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Copper Falls After China Manufacturing Data: LME Preview

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Aug. 1 (Bloomberg) -- Copper declined, extending last month’s drop, after manufacturing in China expanded at the slowest pace in eight months, reducing demand for industrial metals from the world’s biggest consumer.

Market News:

Metals News:

Metal Prices:

-- Copper fell 0.2 percent to $7,544 a metric ton by 7:50
a.m. on the London Metal Exchange. Relative Strength Index 49.
-- Aluminum declined 0.1 percent to $1,887.50 a ton. RSI 46.
-- Zinc dropped 0.2 percent to $1,838.75 a ton. RSI 48.
-- Lead gained 0.1 percent to $1,922.75 a ton. RSI 55.
-- Nickel was little-changed at $15,867 a ton. RSI 44.
-- Tin dropped 0.6 percent to $17,998 a ton. RSI 42.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   82.599           -0.0            3.0
Crude oil           $88.04           -0.0          -10.9
Gold                $1,616.02         0.1            3.3
MSCI World Index    1,249.41         -0.1            5.7


Economic events:
                                    Forecast    Prior     Time
                                                        (London)
France PMI Manufacturing       JUL    43.6       43.6      8:50
Germany PMI Manufacturing      JUL    43.3       43.3      8:55
EC PMI Manufacturing           JUL    44.1       44.1      9:00
U.S. MBA Mortgage Applications JUL 27  --        0.9%     12:00
U.S. ISM Manufacturing         JUL    50.2       49.7     15:00
U.S. FOMC Rate Decision               0.25%      0.25%    19:15
U.S. Total Vehicle Sales       JUL    14.00M     14.05M   22:00






To contact the reporter on this story:
Maria Kolesnikova in London at 
mkolesnikova@bloomberg.net

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


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