SMM Morning Review - 2010/7/30 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2010/7/30 Copper Market

SMM Insight 09:48:27AM Jul 30, 2010 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.

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

SMM Morning Review - 2010/7/30 Copper Market

SMM Insight 09:48:27AM Jul 30, 2010 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.

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