Metals News
[Cu] SMM Morning Review - 2009/10/22 Copper Market
smm insight
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Oct. 22 (SMM) -- The strong US business results for 3Q increased market confidence in economic recovery, drawing investor attention to higher-yield currencies, and the US dollar index dropped below 75 as a result, and crude oil prices soared to USD 80/barrel. In addition, the Chile strike also helped push up copper prices. LME copper prices hit a daily high of USD 6,670/mt, and closed at USD 6,655/mt, up USD 245/mt. LME copper inventories increased by 5,275mt, bringing total inventories to 362,550mt. Technically, LME copper prices have broken through the previous fluctuation range, and will likely move up to test USD 6,800/mt in the near term.

 

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

CBI China CBMB
copper Cu
Market movement
For queries, please contact Frank LIU at liuxiaolei@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn
Related Price

No Data