SMM Morning Review - 2009/12/28 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2009/12/28 Copper Market

SMM Insight 11:03:15AM Dec 28, 2009 Source:SMM

SHANGHAI, Dec. 28 (SMM) -- Trading sentiment in the foreign exchange market was quiet due to the ongoing Christmas holiday. The US dollar index moved around 77.8. LME market is closed for the holiday, with no direction available for SHFE market. However, SHFE copper market will remain strong on Monday based on trends last Friday. SHFE copper inventories dropped by 8,015 mt, with total stocks down to 96,362 mt last Friday, and the news is expected to push up SHFE copper prices.

In addition, SMM believes LME copper market will keep up the rising pace of SHFE copper market tomorrow when market will reopen.  

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 - 2009/12/28 Copper Market

SMM Insight 11:03:15AM Dec 28, 2009 Source:SMM

SHANGHAI, Dec. 28 (SMM) -- Trading sentiment in the foreign exchange market was quiet due to the ongoing Christmas holiday. The US dollar index moved around 77.8. LME market is closed for the holiday, with no direction available for SHFE market. However, SHFE copper market will remain strong on Monday based on trends last Friday. SHFE copper inventories dropped by 8,015 mt, with total stocks down to 96,362 mt last Friday, and the news is expected to push up SHFE copper prices.

In addition, SMM believes LME copper market will keep up the rising pace of SHFE copper market tomorrow when market will reopen.  

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