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.
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