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Home / Metal News / SMM Morning Review - 2010/7/7 Copper Market

SMM Morning Review - 2010/7/7 Copper Market

iconJul 7, 2010 09:53
Source:SMM

SHANGHAI, July 7 (SMM) – Positive comments by Australian central bank after interest rate decision boosted market risk appetite. As a result, the US dollar index dropped below 84, down as low as 83.82. LME copper prices advanced along with a weaker US dollar and rising equities markets, reaching as high as USD 6,600/mt before ending at USD 6,570/mt, up USD 90/mt.

SMM believes SHFE copper prices will trace rising pace of LME copper prices on Wednesday, and SHFE July delivery copper prices are expected to move between RMB 53,000-53,500/mt.

To contact the writer on this report: iriszhu@smm.cn 

 

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For queries, please contact Michael Jiang at michaeljiang@smm.cn

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