SMM Morning Review - 2010/5/17 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2010/5/17 Copper Market

SMM Insight 10:36:18AM May 17, 2010 Source:SMM

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.

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 - 2010/5/17 Copper Market

SMM Insight 10:36:18AM May 17, 2010 Source:SMM

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.

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