Home / Metal News / Nickel / SMM Morning Review - 2010/7/16 Copper Market
SMM Morning Review - 2010/7/16 Copper Market
Jul 16,2010 09:43CST
smm insight
Source:SMM

SHANGHAI, July 16 (SMM) – Although the US dollar index dropped sharply to 82.2, base metals market failed to make strong positive response to it, with most little changed. It is believed that a softer US dollar in recent days is linked to weaker macro data from the US. The disappointing data from the US added to market concerns over demand outlook. LME copper market overnight fell back to USD 6,600/mt after reaching as high as USD 6,720/mt, and finally closed at USD 6,645/mt, little changed from a day earlier.

SMM believes that LME copper market will unlikely see breakthroughs in the short term in view of a weak US dollar, and fears of economic outlook, with levels expected to move USD 6,600-6,800/mt.

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