Home / Metal News / Nickel / SMM Morning Review - 2010/6/9 Copper Market
SMM Morning Review - 2010/6/9 Copper Market
Jun 9,2010 09:49CST
smm insight
Source:SMM

SHANGHAI, June 9 (SMM) – The euro rebounded from lows, helping the US dollar index drop below 88. In this context, base metal prices rallied across the board, with LME zinc prices leading gains, up more than 6%. LME copper prices advanced to USD 6,100/mt due to short covering, reaching as high as USD 6,185/mt before closing at USD 6,130/mt. During early Asian trading hours, LME copper prices continued to advance, hitting as high as USD 6,230/mt.

LME copper prices have stabilized at USD 6,100/mt temporarily, halting its decline trend. However, possibility of strong performance in recent days is small in view of its existing weak price rebound momentum, and copper prices will continue to fluctuate towards a downward track if any solid negative news is available. 

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

copper Cu
copper price
LME market
US dollar
US dollar index

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news