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Home / Metal News / SMM Morning Review - 2010/5/17 Copper Market

SMM Morning Review - 2010/5/17 Copper Market

iconMay 17, 2010 10:36

SHANGHAI, May 17 (SMM) -- The euro set an 18-month low against the US dollar due to intensified concerns over fiscal health in the Europe. The US dollar advanced for a fifth day, moving above 86. In this context, LME copper prices weakened, reaching as low as USD 6,880/mt, and with prices closing at USD 6,880/mt, down USD 260/mt. The US dollar index is expected to experience corrections after strong gains, and LME copper prices will find strong support at USD 6,800/mt, with prices expected to fluctuate between USD 6,800-7,200/mt.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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