JAN 21 WEDNESDAY


SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 162.10 , S2 RS 160 , S3 RS 158

R1 RS 166.40 , R2 RS 169 , R3 RS 171


Copper, aluminum and nickel led declines in industrial

metals in London on speculation that demand will weaken

as the U.S. housing slump worsens.

Copper for delivery in three months on the London Metal

Exchange dropped $170, or 5 percent, to $3,260 a metric

ton as of 10:54 a.m. local time. That’s the biggest

intraday decline since Jan. 12. Aluminum fell $35, or

2.5 percent, to $1,388 a ton. The contract earlier reached

$1,370, the lowest since July 2003.

Inventories of copper in warehouses monitored by the exchange

jumped 3.9 percent to 409,100 tons, the highest since

January 2004. Aluminum stockpiles gained 0.6 percent to

almost 2.6 million tons, the most since July 1994.