Home > General News > Copper price May Fall on Concern about Chinese Demand: LME Preview

Copper price May Fall on Concern about Chinese Demand: LME Preview

Pin It DMCA.com

by - 4/16/2010 4042 Views

Copper may fall in London on concern about the outlook for demand in China


April 16 (Bloomberg) -China- The world largest consumer of copper, announced measures to cool the real estate market apparently after this there is a concern about Copper may fall in London obviously for demand in China.

Metals News
:

After China announced measures to cool the real-estate market, Zinc fell for the first time in three days stoking concerns that demand may be curbed in the world's largest consumer. 


Nickel, used to make stainless steel corrosion-resistant, advanced to the highest level in 23 months on speculation the market will swing into deficit for the first time in four years as a recovering economy boosts demand. 


Posco, Asia's third-biggest steelmaker, plans to invest about $5 billion in overseas mines, joining rival mills scouring the globe for supplies as raw-material costs jumped.

  
Copper may fall on concern about rising production and a potential weakening of economic growth    in China, the world's biggest consumer, a survey showed. 

Metal Prices:

-- Copper fell 0.1 percent to $7,939 a metric ton on the
London Metal Exchange at 8:15 a.m. Relative Strength Index
64.
-- Aluminum rose 0.1 percent to $2,476 a ton. RSI 79.
-- Zinc gained 0.6 percent to $2,525 a ton. RSI 66.
-- Lead climbed 1 percent to $2,362 a ton. RSI 63.
-- Nickel declined 0.2 percent to $27,159 a ton. RSI 79.
-- Tin rose 1 percent to $19,150 a ton. RSI 76.
Other markets: Last % Change % YTD
U.S. Dollar Index 80.630 0.2 3.6
Crude oil $84.78 -0.9 6.8
Gold $1,153.95 -0.5 5.2
MSCI World Index 1,238.97 0.2 6.0
Economic Events:
Forecast Prior Time
(London)
Euro-Zone CPI (MoM) 0.9% 0.3% 10:00
Euro-Zone Trade Balance -0.5B -8.9% 10:00
U.S. Housing Starts 610K 575K 13:30
U.S. Housing Starts MoM% 6.1% -5.9% 13:30
U.S. U. Of Michigan Confidence 75.0 73.6 14:55

Comments


Be the first to post a comment.