[Cu] CBI Morning Review - 2009/5/27 Copper Market-Shanghai Metals Market

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[Cu] CBI Morning Review - 2009/5/27 Copper Market

SMM Insight 01:16:23PM Dec 07, 2009 Source:SMM

SHANGHAI, May 27 (CBI China) -- The Conference Board announced that the US consumer confidence index recovered during May, propelling LME copper price to rebound. LME three-month copper price closed at USD 4,690/mt, up USD 70/mt. The LME inventories declined by 6,800mt, bringing the total inventory to 326,575mt. The market confirmed that the State Reserve Bureau will sell 50kt of copper, exerting negative impact on copper price. SHFE copper price is expected to rise along with LME copper price trend today, but the weak spot consumption will depress any upward room for copper price.

 

Copyright © 2009, 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

[Cu] CBI Morning Review - 2009/5/27 Copper Market

SMM Insight 01:16:23PM Dec 07, 2009 Source:SMM

SHANGHAI, May 27 (CBI China) -- The Conference Board announced that the US consumer confidence index recovered during May, propelling LME copper price to rebound. LME three-month copper price closed at USD 4,690/mt, up USD 70/mt. The LME inventories declined by 6,800mt, bringing the total inventory to 326,575mt. The market confirmed that the State Reserve Bureau will sell 50kt of copper, exerting negative impact on copper price. SHFE copper price is expected to rise along with LME copper price trend today, but the weak spot consumption will depress any upward room for copper price.

 

Copyright © 2009, 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