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Home / Metal News / SMM Morning Review - 2010/7/30 Copper Market

SMM Morning Review - 2010/7/30 Copper Market

Jul 30, 2010 09:48

Source:SMM

SHANGHAI, July 30 (SMM) – The US dollar fell due to a strong PMI data in the Euro zone, helping the US dollar index drop below 81.5. LME copper prices jumped, reaching as high as USD 7,278/mt, and succeed to hold gains at the tail of trading, closing at USD 7,255/mt, up USD 80/mt.

During Friday’s Asian trading hours, LME copper price advanced at a moderate pace, fluctuating at around USD 7,200/mt. SMM believes that prices will likely experience brief corrections after constant rallies, in a preparation for future gains.

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