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Copper Drops in London Trading on German Slowdown: LME Preview

Copper dropped in London on signs of slowing economic growth in Germany, the world’s biggest buyer of the metal after China and the U.S.

Market News:

-- Asian stocks declined the most in two months after earnings from Samsung Electronics Co. and HTC Corp. disappointed some

-- State and local governments are in their best financial shape

-- General Motors Co. likely will maintain its position in the

-- President Barack Obama may choose White House Chief of Staff

-- Pakistan may require an International Monetary Fund bailout

-- China’s economy has the potential to grow 8 percent annually

Metals News:

-- Alcoa Inc., the largest U.S. aluminum producer, is set to

-- Demand for palladium, last quarter’s best-performing precious

-- Steel reinforcement-bar futures traded near the highest level

Metals Prices:

-- Copper slipped 0.1 percent to $8,063.25 a metric ton at 7:31
a.m. on the London Metal Exchange. Relative strength index 55.
-- Aluminum declined 0.2 percent to $2,061.25 a ton. RSI 48.
-- Nickel gained 0.4 percent to $17,270 a ton. RSI 49.
-- Lead dropped 0.4 percent to $2,296 a ton. RSI 50.
-- Tin was down less than 0.1 percent at $24,070 a ton. RSI 68.
-- Zinc fell 0.2 percent to $2,018 a ton. RSI 45.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     80.19           -0.1        0.5
Crude Oil            $93.03           -0.2        1.3
Gold              $1,647.79            0.1       -1.7
MSCI World Index   1,365.84           -0.1        2.0

Economic Events:
                                    Survey    Prior      Time
EC Euro-Zone Consumer Confidence    -26.6    -26.6       10:00
GE Factory Orders                    -1.4%     3.9%      11:00
US Consumer Credit                 $12.75B   $14.158B    20:00

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