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[Cu] SMM Morning Review - 2009/11/20 Copper Market
Dec 7, 2009 13:16Source:SMM
SHANGHAI, Nov. 20 (SMM) -- The falling housing starts in October in the US exerted downward pressure on stock markets, while the number of initial application for unemployment benefits last week was flat at a week earlier. The weak economic data in the UK drove up the US dollar, and the US dollar index rebounded to 75.3. LME copper prices dropped as a result, and closed at USD 6,790/mt, down USD 90/mt. LME copper inventories increased by 6,450 mt, also having negative impact on copper prices. LME copper prices will likely rise further despite of limited reductions.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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