Copper Falls as Japan Trade Deficit Widens: LME Preview

Copper declined after touching a one-month high yesterday as Japan’s trade deficit widened more than expected and some investors were concerned about demand ahead of a euro-area finance ministers’ meeting.

Market News:

-- Europe’s failure to resolve its sovereign-debt crisis will

-- Asian stocks fell the most in almost three weeks and copper declined as Japan’s trade deficit widened more than expected and

-- Japan had a wider-than-estimated trade deficit in July as

-- From the U.S. to Germany and China, the risk of owning

-- Sales of existing homes probably climbed in July from an

-- Commodities entered a bull market, gaining 21 percent from a

Metals News:

-- BHP Billiton Ltd., the world’s biggest mining company, put

-- A plunge in shipping costs and iron ore prices mean it’s

-- China’s tax department has proposed a pollution levy to the

-- Nana Akufo-Addo, the main opposition presidential candidate

Metal Prices:

-- Copper fell 0.5 percent to $7,567.25 a metric ton by 7:33
a.m. on the London Metal Exchange. Relative Strength Index 53.
-- Aluminum declined 0.5 percent to $1,857 a ton. RSI 46.
-- Zinc gained 0.1 percent to $1,812 a ton. RSI 45.
-- Lead rose 0.1 percent to $1,915 a ton. RSI 55.
-- Nickel gained 0.1 percent to $15,842 a ton. RSI 52.
-- Tin added 0.3 percent to $19,003 a ton. RSI 60.
Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.957            0.1            2.2
Crude oil           $96.77           -0.1           -2.1
Gold                $1,640.35         0.2            4.9
MSCI World Index    1,291.87         -0.1            9.2
Economic events:
                                    Forecast    Prior     Time
                                                        (London)
U.S. MBA Mortgage Applications AUG 17  --       -4.5%     12:00
U.S. Existing Home Sales       JUL     4.51M    4.37M     15:00
U.S. Minutes of FOMC Meeting                              19:00

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