SMM Morning Review - 2010/6/28 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2010/6/28 Copper Market

SMM Insight 09:56:27AM Jun 28, 2010 Source:SMM

SHANGHAI, June 28 (SMM) – Market positions adjustment on Friday evening before the opening of G-20 Summit dampened the US dollar, and US equities markets gained, helping LME copper prices rebound from negative news of lower GDP growth in 1Q from the US, reaching to nearly a 4-week high of USD 6,875/mt. Finally, LME copper prices closed at USD 6,860/mt.

SMM expects LME copper prices to fluctuate between USD 6,550-6,850/mt in the near future.

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 - 2010/6/28 Copper Market

SMM Insight 09:56:27AM Jun 28, 2010 Source:SMM

SHANGHAI, June 28 (SMM) – Market positions adjustment on Friday evening before the opening of G-20 Summit dampened the US dollar, and US equities markets gained, helping LME copper prices rebound from negative news of lower GDP growth in 1Q from the US, reaching to nearly a 4-week high of USD 6,875/mt. Finally, LME copper prices closed at USD 6,860/mt.

SMM expects LME copper prices to fluctuate between USD 6,550-6,850/mt in the near future.

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