Metals News
[Cu] SMM Morning Review - 2009/11/24 Copper Market
smm insight
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Nov. 24 (SMM) -- The Federal Reserve Bank of St. Louis President's remarks suggested the US will maintain low interest rates, depressing the US dollar, and the US dollar index fell below 75. The higher-than-expected US existing home sales positively affected stock and commodity markets. In this context, LME copper prices hit USD 7,010/mt, and finally closed at USD 6,950/mt, up USD 145/mt. LME copper prices failed to stand firm at USD 7,000/mt, and will continue to climb to USD 7,000/mt in the near future.

 

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