SMM Morning Review - 2010/8/23 Copper Market

Aug 23, 2010 10:14

SHANGHAI, Aug. 23 (SMM) -- Last Friday, LME copper prices extended declines, and the US stocks edged lower negatively affected by disappointing employment and manufacturing data in the US released last Thursday, and the US dollar index strengthened to as high as 83.3 in response to lower risk appetite. LME copper prices dipped to as low as USD 7,190/mt last Friday, and then reversed some losses at the tail of trading, with prices finally ending at USD 7,265/mt, down USD 55/mt. LME copper prices have rebounded from lows during the Asian trading hours this morning, and SMM predicts LME copper prices will fluctuate around USD 7,300/mt today.

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SMM Morning Review - 2010/8/23 Copper Market

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