Metals News
[Cu] CBI Morning Review - 2008/12/17 Copper Market
smm insight
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Dec. 17 (CBI China) -- U.S. economic data weakened again, but soft U.S. dollar slowed the continuous declines in LME copper. Three-month LME copper closed at USD 3070/mt, down USD 20/mt. London stocks increased 3800 mt with a total inventory amounting to 318,625 mt. After the close of the metal market, the U.S. FED announced the rate cut with the target interest rate reducing from 1% to 0-0.25%. Stimulated by this news, U.S. stocks rose sharply and today metal market likely open higher. However, these data also highlighted the difficulties of the current economic situation, and LME copper will return to be weak after the news is absorbed by the market.


Copyright © 2008, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040

CBI China CBMB
copper Cu
Market movement
For queries, please contact Frank LIU at liuxiaolei@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn
Related Price

No Data