Chinese investors banned from shorting equities may be selling copper instead, exacerbating the metal’s collapse to the lowest in six years.
MARKET NEWS * Asian Futures Point to More Losses as Gold to Oil Extend Drops * Real-Estate Recovery Hiccups as Sales of U.S. New Homes Slump * Clinton Faults Activist Investors’ ‘Hit-and-Run’ Tactics * Brent Falls Below $55 a Barrel With U.S. Crude in Bear Market * Emerging Market Currencies Sink to Record in ’Violent’ Selloff
METALS NEWS * China Bears Seen Hurting Copper as Short-Selling Stocks Curbed * Gold Slump Not Over as Speculators Go Net-Short for First Time * Gold Below $1,100 Threatens Profit at One-Third of Producers * Copper Extends Slide to Lowest Since 2009 on Weak China Demand * Worker Shot Dead as Copper Protest at Chile’s Codelco Sours
METALS PRICES * Aluminum up 0.4% to $1,642.50/mt; RSI 34 * Copper down 0.2%% to $5,263/mt; RSI 28 * Nickel down 1.1% to $11,300/mt; RSI 40 * Lead down 0.8% to $1,719/mt; RSI 36 * Tin up 3% to $15,405/mt; RSI 56 * Zinc down 1.5% to $1,952/mt; RSI 34
OTHER MARKETS * Brent little changed at $54.60/bbl * Spot Gold down 0.2% to $1,096.59/oz * Bloomberg Dollar Index little changed at 1,209.78 * MSCI All-Country World Index down 1% to 422.80 on Friday
ECONOMIC EVENTS (All Times London): * 09:00 Germany IFO Business Climate * 09:00 Euro-zone M3 Money Supply * 13:30 U.S. Durable Goods Orders * 15:00 Dallas Fed Manufacturing Activity