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SMM Morning Review - 2010/1/22 Copper Market
Jan 22,2010 10:27
CSTsmm insight
Source:SMM
SHANGHAI, Jan. 22 (SMM) -- The US president Obama proposed rules to curb risks in financial system, depressing the risk appetite. The plunging US stock market weighed down on LME copper prices as well, with prices ending at USD 7,265/mt, fluctuating between the 20 and 30-day moving average, down USD 110/mt. The round of weak price performance greatly depressed market confidence, and whether or not copper prices will regain an upward momentum depends mainly on the recovery of market sentiment.
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