Metals News
[Cu] CBI Morning Review - 2009/1/6 Copper Market
smm insight
01:16PM
Dec 7,2009
Source:SMM

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.

 

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