Nickel Leads Industrial Metals Lower on China Curbs: LME Preview

Nickel slumped 1.9 percent, leading declines in industrial metals after China called for property curbs.

Market News:

-- Asian stocks tumbled from an 18-month high and commodities fell as China called for property curbs and Federal Reserve

-- Americans, by a margin of more than 3 to 1, expect the

-- As New Zealand joins more than a dozen nations decrying the

-- Singapore will probably force companies to further reduce

-- The Federal Reserve signaled it may consider slowing the pace

Metals News:

-- Aluminum inventories in China’s main trading regions are

-- Steel reinforcement-bar futures in Shanghai fell for a second

-- When BHP Billiton Ltd.’s new chief executive officer Andrew

Metals Prices:

-- Copper declined 0.4 percent at $7,924.75 a metric at 6:55
a.m. on the London Metal Exchange. Relative strength index 35.
-- Aluminum slid 1 percent to $2,081.75 a ton. RSI 45.
-- Nickel slumped 1.9 percent to $16,840 a ton. RSI 32.
-- Lead retreated 1.2 percent to $2,323 a ton. RSI 41
-- Tin was down 1.6 percent at $23,355 a ton. RSI 29.
-- Zinc fell 0.8 percent to $2,115.50 a ton. RSI 46.

Other markets:         Last          % Change   % YTD

U.S. Dollar Index     81.19            0.2        1.8
Crude Oil            $94.38           -0.9        2.8
Gold              $1,566.30            0.1       -6.5
MSCI World Index   1,403.37           -0.5        4.9

Economic Events:
                                    Survey    Prior      Time
                                                       (London)
EC PMI Manufacturing                 48.5     47.9       09:00
US Consumer Price Index               0.1%     0.0%      13:30
US Initial Jobless Claims           355K     341K        13:30
US Philadelphia Fed                   1.1     -5.8       15:00
US Existing Home Sales               -0.8%    -1.0%      15:00
US Leading Indicators                 0.2%     0.5%      15:00
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