Home / Metal News / Copper / SMM Morning Review - 2010/2/10 Copper Market
SMM Morning Review - 2010/2/10 Copper Market
Feb 10,2010 10:17CST
smm insight

SHANGHAI, Feb. 10 (SMM) -- German officials said Germany will consider assistance for Greece, and market players generally believe that the EU will find a solution to debt crisis in the Euro zone before the EU summit. Following the news, the euro regained some losses against the US dollar, weighing on the US dollar index, moving around 79.8. As a result, LME copper prices strengthened, with prices closing at USD 6,630/mt, up USD 210/mt, nearer to the 10-day moving average of USD 6,670/mt.

This week, China will announce its preliminary import and export data, with copper imports expected to remain high based on current market supply and favorable price ratio since December 2009. This will be positive for copper prices, but any price increases will be limited. If copper prices jump before the holiday, it will be not favorable for LME copper price trends during the Chinese New Year holiday.

To contact the writer on this report: iriszhu@smm.cn


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

copper Cu
copper price
LME market

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news