Metals News
[Cu] SMM Morning Review - 2009/12/1 Copper Market
smm insight
Dec 7,2009

SHANGHAI, Dec. 1 (SMM) -- Investor sentiment recovered from Dubai debt crisis, and the UAE central bank announced to provide support for Dubai World, also raising market confidence. In this context, the US stocks climbed, while the US dollar fell to 74.7, helping push up base metal prices. LME copper prices closed at USD 6,930/mt, up USD 75/mt. SHFE copper prices tracked LME copper price trends, with optimistic sentiment dominating the market, and spot discounts will likely narrow further as the delivery date approaches. LME copper prices are expected to test USD 7,000/mt this week.


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