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Home / Metal News / SMM Morning Review - 2010/1/18 Copper Market

SMM Morning Review - 2010/1/18 Copper Market

iconJan 18, 2010 11:18
Source:SMM

SHANGHAI, Jan. 18 (SMM) -- The US's industrial production in December increased by 0.6% from November levels, which was in line with expectations. The US's CPI grew by 0.1% from a month earlier in December. The US dollar strengthened following expectations of higher interest rate from sustainable growth of manufacturing and inflation data, helping the US dollar index climb from 77.1 to 77.3. LME copper markets weakened due to a stronger US dollar, with prices ending at USD 7,430/mt, down USD 60/mt.

The US dollar is expected to rebound after sharp declines over the past week, and so LME copper prices will continue to move in the USD 7,400-7,500/mt range this week. 

 

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