SMM Morning Review - 2009/12/23 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2009/12/23 Copper Market

SMM Insight 11:17:08AM Dec 23, 2009 Source:SMM

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.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

SMM Morning Review - 2009/12/23 Copper Market

SMM Insight 11:17:08AM Dec 23, 2009 Source:SMM

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.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn