SMM Morning Review - 2010/3/3 Copper Market -Shanghai Metals Market

Hot Keywords

  • Inventory data
  • NPI
  • Zinc
  • Production data
  • Macroeconomics
  • Market commentary
  • Morning comments
  • Aluminium
  • Copper
  • Stainless steel
  • Mengtai Group
  • Nickel
  • Futures movement
  • In the United States
  • trade negotiations

SMM Morning Review - 2010/3/3 Copper Market

SMM Insight 09:57:35AM Mar 03, 2010 Source:SMM

SHANGHAI, Mar. 3 (SMM) -- The news of Greece's measures to cut budget improved market expectations of aid plan for debt issues in the country. As a result, the euro strengthened, and the US dollar fell, causing the US dollar index to move around 80.3. In this context, LME copper price rebounded, reaching as high as USD 7,510/mt, with prices closing at USD 7,505/mt, up USD 150/mt.

Copper prices experienced rebounds when market players generally believe that copper prices would return to previous fluctuating range. The unexpected copper price trends indicate that changes in external markets remain as major influential factors on copper prices. China's NPC and CPPCC will get started soon, and LME copper prices will remain closed to the trend of US dollar index before the two meetings begin.

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

Key Words:  copper Cu  copper price  LME market  

SMM Morning Review - 2010/3/3 Copper Market

SMM Insight 09:57:35AM Mar 03, 2010 Source:SMM

SHANGHAI, Mar. 3 (SMM) -- The news of Greece's measures to cut budget improved market expectations of aid plan for debt issues in the country. As a result, the euro strengthened, and the US dollar fell, causing the US dollar index to move around 80.3. In this context, LME copper price rebounded, reaching as high as USD 7,510/mt, with prices closing at USD 7,505/mt, up USD 150/mt.

Copper prices experienced rebounds when market players generally believe that copper prices would return to previous fluctuating range. The unexpected copper price trends indicate that changes in external markets remain as major influential factors on copper prices. China's NPC and CPPCC will get started soon, and LME copper prices will remain closed to the trend of US dollar index before the two meetings begin.

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

Key Words:  copper Cu  copper price  LME market