Zinc slides, Copper Heads for Best Week in Five Months in London on Demand: LME Preview By Claudia Carpenter - Jul 23, 2010
Copper headed for its best week in five months as the outlook for demand improved following a continued decline in inventories. Futures in Shanghai jumped to an eight-week high.
-- Copper fell $15.25, or 0.2 percent to $6,994.75 a metric ton on the London Metal Exchange at 7:24 a.m. Relative Strength Index 61.1. -- Aluminum dropped 0.4 percent to $2,036.25 a ton. RSI 56.8. -- Zinc declined 1.2 percent to $1,925.75 a ton. RSI 57.5. -- Lead lost 0.8 percent to $1,925.50 a ton. RSI 62. -- Nickel climbed 0.4 percent to $20,325 a ton. RSI 57.5. -- Tin dropped 1.2 percent to $18,350 a ton. RSI 59.
Other markets: Last % Change % YTD U.S. Dollar Index 82.654 0.0 6.2 Crude oil $79.07 -0.3 -0.4 Gold $1,196.57 0.1 9.1 MSCI World Index 1,110.10 2.0 -5.0
Economic Events: Forecast Prior Time (London)
U.K. GDP 0.6 0.3 9:30
To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net
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