Copper futures fell us $ driven rise, decline in nickel|drain pipe fittings

 

 

 

* Dollar index eased from multi-year highs
* Nickel fell 1.6% to technical selling pressure
* The United States in August, consumer spending rose 0.5%
September 29-Reuters London copper futures rose on Monday as the dollar rose from four-year highs hit earlier, copper plate has about three-month lows.
Nickel fell, stocks hit a record high.
The London Metal Exchange (LME), three-month copper rose 0.4%, reported $ 6,742, Pan fell to the lowest level since June 16 $ 6,666.
Weakening in the US dollar, but the dollar against the yen, the euro and a basket of major currencies remained close to multi-year highs. During the three-month rally, the dollar index so far this year, an increase of more than 7%.
"I strongly believe the dollar will remain strong, which will continue to pressure on the demand for metals," said Naeem Aslam, Ava Trade Chief market analyst.
Aslam said that if Friday's United States strong September non-farm payrolls data may help to the United States when it started speculation of interest rate rises, and is likely to boost the dollar.
United States released Monday have mixed data, consumer spending rose more than expected in August, but the index of pending home sales fell more than expected.
August added a downbeat economic data in China August industrial profits growth fell 0.6%, down significantly in July, an increase of 13.5% mainly due to slowdown in industrial production, sales and profits high base effect from a year earlier. Investor concerns over Chinese demand Outlook also dragged down metals prices.
However, the official industrial production figures will be released this week, is expected to expected to show in September held steady, helped by industrial orders held steady, for those who are worried about the Chinese economy or quickly lose kinetic energy of people some comfort.
In other metals, three-month nickel fell 1.8% to close at 16,675 dollars per ton on Friday closed below its 200-day moving averages, for the first time in February, triggering technical selling pressure.
LME nickel inventories 5,370 tonnes on Monday, to 353,340 tonnes, a record high.
Three-month aluminium rose 0.8%, 1,963 dollars, hit a 2.5-month low of $ 1,938.
Three-month Tin $ 20,400, down 0.5%, wheel, hitting the lowest level since July 31 last year of $ 20,240.
Zinc closed 1.1 higher LME three-month, at $ 2,290 a tonne. Three-month lead rose to 1.3%, to close at $ 2,098 per ton.

* Dollar index eased from multi-year highs

 

 

* Nickel fell 1.6% to technical selling pressure

 

 

* The United States in August, consumer spending rose 0.5%

 

 

September 29-Reuters London copper futures rose on Monday as the dollar rose from four-year highs hit earlier, copper plate has about three-month lows.

 

 

Nickel fell, stocks hit a record high.

 

 

The London Metal Exchange (LME), three-month copper rose 0.4%, reported $ 6,742, Pan fell to the lowest level since June 16 $ 6,666.

 

 

Weakening in the US dollar, but the dollar against the yen, the euro and a basket of major currencies remained close to multi-year highs. During the three-month rally, the dollar index so far this year, an increase of more than 7%.

 

 

"I strongly believe the dollar will remain strong, which will continue to pressure on the demand for metals," said Naeem Aslam, Ava Trade Chief market analyst.

 

Aslam said that if Friday's United States strong September non-farm payrolls data may help to the United States when it started speculation of interest rate rises, and is likely to boost the dollar.

 

United States released Monday have mixed data, consumer spending rose more than expected in August, but the index of pending home sales fell more than expected.

 

 

 

 

August added a downbeat economic data in China August industrial profits growth fell 0.6%, down significantly in July, an increase of 13.5% mainly due to slowdown in industrial production, sales and profits high base effect from a year earlier. Investor concerns over Chinese demand Outlook also dragged down metals prices.

 

 

 

 

However, the official industrial production figures will be released this week, is expected to expected to show in September held steady, helped by industrial orders held steady, for those who are worried about the Chinese economy or quickly lose kinetic energy of people some comfort.

 

 

In other metals, three-month nickel fell 1.8% to close at 16,675 dollars per ton on Friday closed below its 200-day moving averages, for the first time in February, triggering technical selling pressure.

 

 

LME nickel inventories 5,370 tonnes on Monday, to 353,340 tonnes, a record high.

 

 

Three-month aluminium rose 0.8%, 1,963 dollars, hit a 2.5-month low of $ 1,938.

 

 

 

 

Three-month Tin $ 20,400, down 0.5%, wheel, hitting the lowest level since July 31 last year of $ 20,240.

 

 

Zinc closed 1.1 higher LME three-month, at $ 2,290 a tonne. Three-month lead rose to 1.3%, to close at $ 2,098 per ton.

 

 

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