Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Copper Drops in London Trading on German Slowdown: LME Preview

Jan. 8 (Bloomberg) -- 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:

-- German exports fell more than economists forecast in November as the sovereign debt crisis weighed on euro-area demand. {NSN MGAOK76JTSE9 <go>}

-- Asian stocks declined the most in two months after earnings from Samsung Electronics Co. and HTC Corp. disappointed some investors. The yen pared an advance against the euro as Finance Minister Taro Aso said Japan will buy bonds issued by the European Stability Mechanism. {NSN MGAJE707SXKX <go>}

-- State and local governments are in their best financial shape since the recession, giving them leeway to cushion the U.S. economy from federal budget cuts with spending and hiring of their own. {NSN MGA4VX6KLVR7 <go>}

-- General Motors Co. likely will maintain its position in the U.S. after its market share plunged to the lowest since Alfred P. Sloan’s first full year running the company. {NSN MGA1PB0YHQ0X <go>}

-- President Barack Obama may choose White House Chief of Staff Jack Lew to replace Treasury Secretary Timothy F. Geithner as soon as this week, according to two people familiar with the matter. {NSN MGA9YN6JIJVD <go>}

-- Pakistan may require an International Monetary Fund bailout after a tumble in foreign reserves and a plunge in its currency to a record low, as a struggling economy saps support for the government before a general election. {NSN MGAK7R1A1I4H <go>}

-- China’s economy has the potential to grow 8 percent annually over the next 20 years should the nation reduce support for state companies and unshackle banks, according to Lin Yifu, a former World Bank chief economist. {NSN MG9YGI6TTDUP <go>}

Metals News:

-- Alcoa Inc., the largest U.S. aluminum producer, is set to record the strongest annual earnings growth in three years as the price of the commodity rebounds and after the company closed its most inefficient smelters. {NSN MG9WIN6TTDTV <go>}

-- Demand for palladium, last quarter’s best-performing precious metal, is exceeding supply for a second consecutive year as mine production stagnates while sales by automakers, the biggest buyers, reach record highs. {NSN MGAGG41A1I4H <go>}

-- Anglo American Plc appointed Mark Cutifani to replace Cynthia Carroll as chief executive officer as the mining company seeks to increase growth. {NSN MGANBV6S972W <go>}

-- Steel reinforcement-bar futures traded near the highest level in six months amid optimism that demand for the building material will rise as China boosts spending on infrastructure. {NSN MGAO6I0D9L3X <go>}

-- Zimbabwe canceled 65 mining prospective licenses, according to a notice dated Jan. 4. {nsn MGANRF6JTSEA <GO>}

-- Barrick Gold Corp. and its global competitors are poised to sell assets this year as the companies seek to reverse two years of share-price declines. {NSN MG9Y866TTDTC <go>}

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

To contact the reporter on this story: Claudia Carpenter in London at

To contact the editor responsible for this story: Claudia Carpenter at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.