SMM Morning Review - 2010/3/15 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2010/3/15 Copper Market

SMM Insight 11:57:03AM Mar 15, 2010 Source:SMM

SHANGHAI, Mar. 15 (SMM) -- Industrial production for January in the euro zone was up 1.7% on a monthly basis, 0.7% higher than expected. As a result, the euro gained, and the US dollar index fell below 80. LME copper prices returned above USD 7,500/mt, but closing prices fell back to USD 7,460/mt. 

Market concerns over a possible restrictive monetary policy continue to affect market sentiment. Spot consumption in Chinese market remains low. SMM believes spot transactions will likely improve after the delivery data, and copper prices will move higher by then.

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

SMM Morning Review - 2010/3/15 Copper Market

SMM Insight 11:57:03AM Mar 15, 2010 Source:SMM

SHANGHAI, Mar. 15 (SMM) -- Industrial production for January in the euro zone was up 1.7% on a monthly basis, 0.7% higher than expected. As a result, the euro gained, and the US dollar index fell below 80. LME copper prices returned above USD 7,500/mt, but closing prices fell back to USD 7,460/mt. 

Market concerns over a possible restrictive monetary policy continue to affect market sentiment. Spot consumption in Chinese market remains low. SMM believes spot transactions will likely improve after the delivery data, and copper prices will move higher by then.

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