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SMM Morning Review - 2010/5/24 Copper Market
May 24,2010 10:04CST
smm insight
Source:SMM

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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