SHANGHAI, Jan. 6 (CBI China) -- The U.S. dollar rising delivered pressure on the metal, LME copper closed at USD 3207/mt, down USD 3/mt. The inventories increased by 1,500 mt, and the total inventories reached 342,050 mt. Yesterday SHFE copper remained high, the spot premium also remained high. The traders were reluctant to sell, the high interest of the downstream in purchase supported the SHFE copper prices to a certain extent. The resumption of copper concentrate processing trade was favorable for the regulation of the ratio between SHFE and LME copper in the future, that is, is favorable for SHFE copper and unfavorable for LME copper. SHFE copper trend is expected to be stronger than LME copper in the near future.
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: firstname.lastname@example.org or tel:86-21-51550040