Home / Metal News / Zinc / SMM Morning Review - 2010/7/20 Copper Market
SMM Morning Review - 2010/7/20 Copper Market
Jul 20,2010 09:34CST
smm insight

SHANGHAI, July 20 (SMM) – The US equities markets closed higher on Monday, led by technology stocks, boosting LME copper market. In addition, the persistence of a weaker US dollar also supported LME copper prices. In this context, LME copper prices closed at USD 6,515/mt, up USD 35/mt.

Market focus is now on the upcoming US housing starts. Since the previous soft consumer data from the US has greatly dampened market sentiment, copper prices will likely drop further, if the data remains unfavorable. However, SMM believes LME copper prices will find support at USD 6,300/mt, given no further deterioration in market fundamentals and a weaker US dollar. 

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