Metals News
[Cu] CBI Morning Review - 2008/12/25 Copper Market
smm insight
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Dec. 25 (CBI China) -- U.S. Department of Commerce announced that durable goods orders in November declined by 0.6% which was lower than market expectations, U.S. stocks rose. But last week the number of unemployed people increased by 30,000, a large number of funds were withdrew before the holiday, the increases of LME copper were restricted, three-month LME copper closed at USD 2,850/mt, up USD 25/mt. The inventories increased by 3,250 mt with the total inventories of 331,450 mt. Recently, the news about the reserves for aluminum and zinc boosted the SHFE copper market, as a result, SHFE copper was stronger than LME copper. SHFE copper is expected to remain fluctuation during the Christmas holiday.


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