Metals News
[Cu] Copper Prices May Fluctuate Next Week
smm insight
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Dec. 26 (CBI China) -- During Christmas period, the market sentiment was muted with slight fluctuations in prices. The economic data released by the U.S., Europe and Japan were still soft, LME inventories increased further, the short bias of copper fundamental has not changed. In domestic market, the productions cut of large-scale enterprises, State Reserves of copper and scrap copper supply shortage led the limited refined copper supply. The better performance of copper rod and wire industry dampened the declines in the downstream demand. The domestic copper prices were higher than the foreign prices, which favored imports but could not pull up the copper prices. In general, LME copper was still the main factor, the copper prices are expected to fluctuate in the USD 2700-3000/mt range.

 

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