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Home / Metal News / SMM Morning Review - 2010/5/24 Copper Market

SMM Morning Review - 2010/5/24 Copper Market

iconMay 24, 2010 10:04

SHANGHAI, May 24 (SMM) -- The euro on Friday advanced versus the US dollar, helping the US dollar index fall back to 85.1. The US equities stabilized from yesterday's declines. In this context, LME copper prices moved higher, reaching as high as USD 6,880/mt, with prices closing at USD 6,815/mt, touching the 10-day moving average.

In the short term, copper price is believed to rebound, but any upward momentum will be limited, with prices expected to fluctuate in the USD 6,600-6,800/mt range.

To contact the writer on this report: iriszhu@smm.cn

 

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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.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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