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SMM Morning Review - 2010/2/9 Copper Market
Feb 9,2010 09:39CST
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Source:SMM

SHANGHAI, Feb. 9 (SMM) -- The euro regained some losses thanks to rising stock markets in the Europe, weighing on the US dollar to some extent. In this context, LME copper prices moved higher, with prices reaching as high as USD 6,460/mt, and prices ended at USD 6,420/mt. Despite of improved euro, investors remain cautious of debt concerns in the euro zone, and the G7 meeting made no substantial measures to resolve the problem. Hence, the US dollar is not expected to fall before Chinese New Year holiday, and copper prices will continue to suffer pressure at the high end as a result.

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