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Home / Metal News / SMM Morning Review - 2009/12/23 Copper Market

SMM Morning Review - 2009/12/23 Copper Market

iconDec 23, 2009 11:17

SHANGHAI, Dec. 23 (SMM) -- Copper market suffered negative impact, as the US 3Q GDP growth was revised down. However, the negative impact was offset by a 7.4% growth of the US house sales data for November. In this context, LME copper market closed at USD 6,881/mt, down USD 59/mt. LME copper inventories grew by 1,450 mt to 480,900 mt.

Weak performance in the LME copper market is within SMM prediction. SMM believes LME copper market will continue to fluctuate, and may test USD 6,800/mt, as the US dollar remains strong.

 

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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