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Home / Metal News / [Cu] SMM Morning Review - 2009/10/27 Copper Market

[Cu] SMM Morning Review - 2009/10/27 Copper Market

iconDec 7, 2009 13:16
Source:SMM

SHANGHAI, Oct. 27 (SMM) -- LME copper prices soared above USD 6,700/mt yesterday, but then slipped due to strengthened US dollar, and closed at USD 6,613/mt finally, down USD 36/mt. LME copper inventories increased by 1,775 mt, bringing total inventories to 368,850 mt. The worker strike in copper mines in Chile and strong China's copper imports helped support copper prices, and LME copper prices are expected to surge to USD 6,800/mt given the unchanged downward trend for US dollar.

 

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