Farallon Resources Ltd. (fka FRLIF)

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Zinc drops as Copper Pares Gains on U.S. Economic Growth Outlook: LME Preview

By Claudia Carpenter

June 18 (Bloomberg) -- Copper erased early gains in Asia, heading for a weekly decline, after economic reports raised concerns that the U.S. recovery isn’t as strong as expected. Zinc, nickel and lead dropped.

-- Copper fell 0.5 percent to $6,413 a metric ton on the
London Metal Exchange at 8:07 a.m. Relative Strength Index
41.5.
-- Aluminum dropped 0.8 percent to $1,950 a ton. RSI 42.3.
-- Zinc lost 2 percent at $1,729.75 a ton. RSI 38.7
-- Lead declined 1.4 percent at $1,740 a ton. RSI 44.9
-- Nickel declined 0.2 percent to $19,759 a ton. RSI 43.3.
-- Tin retreated 0.5 percent at $17,651 a ton. RSI 54.3.

Other markets: Last % Change % YTD
U.S. Dollar Index 85.635 -0.1 9.9
Crude oil $76.26 -0.7 -3.8
Gold $1,244.07 -0.1 13.4
MSCI World Index 1,114.84 0.2 -4.6

Economic Events:
Forecast Prior Time
(London)

Italy Industrial Orders April 0.8 1.0% 9:00
U.K. Mortgage Approvals 50K 47K 9:30


http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a4pv2UVG6Yvc