SMM Morning Review - 2010/1/6 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2010/1/6 Copper Market

SMM Insight 10:39:04AM Jan 06, 2010 Source:SMM

SHANGHAI, Jan. 6 (SMM) --The US dollar was stable, and the US stock market closed slightly higher. LME copper prices ended at USD 7,520/mt, up USD 25/mt. The end of labor strikes at Chuquicamata and Xstrata's copper mines exerted negative impact on copper prices to some extent.In this context, SMM believes that SHFE copper market will continue to struggle at RMB 60,000/mt, and prices will not make substantial breakthroughs on Wednesday and Tuesday. A new round of market movements is expected to emerge on Friday following the release of the US's non-agricultural employment data.  

 

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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 - 2010/1/6 Copper Market

SMM Insight 10:39:04AM Jan 06, 2010 Source:SMM

SHANGHAI, Jan. 6 (SMM) --The US dollar was stable, and the US stock market closed slightly higher. LME copper prices ended at USD 7,520/mt, up USD 25/mt. The end of labor strikes at Chuquicamata and Xstrata's copper mines exerted negative impact on copper prices to some extent.In this context, SMM believes that SHFE copper market will continue to struggle at RMB 60,000/mt, and prices will not make substantial breakthroughs on Wednesday and Tuesday. A new round of market movements is expected to emerge on Friday following the release of the US's non-agricultural employment data.  

 

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