SMM Morning Review - 2010/6/1 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2010/6/1 Copper Market

SMM Insight 09:18:59AM Jun 01, 2010 Source:SMM

SHANGHAI, June 1 (SMM) -- As the US and UK markets were closed on Monday, SHFE copper prices closed lower along with falling stocks market in China. During the early Asian trading hours, LME copper prices remain weak, fluctuating around USD 6,800/mt.

SMM believes LME copper prices will meet resistance at USD 7,000/mt, and coupled with negative news from macro aspects, market sentiment will be faltered. In this context, SMM believes copper prices will remain soft in the short term. 

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

Price

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#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

SMM Morning Review - 2010/6/1 Copper Market

SMM Insight 09:18:59AM Jun 01, 2010 Source:SMM

SHANGHAI, June 1 (SMM) -- As the US and UK markets were closed on Monday, SHFE copper prices closed lower along with falling stocks market in China. During the early Asian trading hours, LME copper prices remain weak, fluctuating around USD 6,800/mt.

SMM believes LME copper prices will meet resistance at USD 7,000/mt, and coupled with negative news from macro aspects, market sentiment will be faltered. In this context, SMM believes copper prices will remain soft in the short term. 

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