SMM Morning Review - 2010/3/30 Copper Market

SHANGHAI, Mar. 30 (SMM) -- The euro maintained its bullish trend as concerns over Greece's debt issues receded, and the US dollar weakened as a result, causing the US dollar index to drop as low as 81.15. LME copper prices gained along with a weaker dollar, and declines in LME and SHFE stocks, with prices not only climbing above USD 7,600/mt, but testing the previous high level of USD 7,800/mt, closing up USD 285/mt. 

The round of price gains marks a good beginning of copper market movements for 2Q, but copper prices will experience downward corrections in the short term. Copper prices are expected to climb higher in the mid and long term, given the high demand period in 2Q and expectations of more ample cash flow in 2Q.

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