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SMM Morning Review - 2010/5/25 Copper Market
May 25,2010 09:39CST
smm insight

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


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