Metals News
SMM Morning Review - 2009/12/28 Copper Market
smm insight
11:03AM
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.  

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