Metals News
[Cu] SMM Morning Review - 2009/11/5 Copper Market
smm insight
Dec 7,2009

SHANGHAI, Nov. 5 (SMM) -- The US Federal Reserve (Fed) decided to maintain interest rate unchanged, and did not show any signs of raising interest rate in the future. This news dampened the US dollar, and the US dollar index fell from 76.3 to 75.7 as a result. Base metal prices climbed in response, and LME three-month contract copper prices closed at USD 6,570/mt, up USD 110/mt. LME copper inventories increased by 250mt, bringing total inventories to 374,050mt. Copper prices still failed to break through USD 6,700/mt despite of US dollar weakness. If the non-farm employment data is positive on Friday, LME copper prices will likely inch up further to test USD 6,700/mt.


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: or tel:86-21-51550040

copper Cu
Market movement
For queries, please contact Frank LIU at
For more information on how to access our research reports, please email
Related Price

No Data