SMM Morning Review - 2010/5/25 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2010/5/25 Copper Market

SMM Insight 09:39:59AM May 25, 2010 Source:SMM

SHANGHAI, May 25 (SMM) -- LME copper prices advanced to USD 6,965/mt along with a weak US dollar index, and rising US equities market, with prices closing at USD 6,940/mt, up USD 125/mt. Positions experienced slight declines. However, the news that Spain's central bank has taken over the troubled regional savings bank depressed the euro, helping the US dollar index rebound in today's morning session.

In this context, SMM believes copper prices will fall back from previous gains, with prices expected to move around the 10-day moving average of USD 6,788/mt on Tuesday. 

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 - 2010/5/25 Copper Market

SMM Insight 09:39:59AM May 25, 2010 Source:SMM

SHANGHAI, May 25 (SMM) -- LME copper prices advanced to USD 6,965/mt along with a weak US dollar index, and rising US equities market, with prices closing at USD 6,940/mt, up USD 125/mt. Positions experienced slight declines. However, the news that Spain's central bank has taken over the troubled regional savings bank depressed the euro, helping the US dollar index rebound in today's morning session.

In this context, SMM believes copper prices will fall back from previous gains, with prices expected to move around the 10-day moving average of USD 6,788/mt on Tuesday. 

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