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SMM Morning Review - 2010/9/13 Copper Market
Sep 13,2010 09:36CST
smm insight
Source:SMM
copper price in LME copper market, copper in copper China

SHANGHAI, Sep. 13 (SMM) – LME base metals market fell on Friday before China released a series of major economic data on Saturday. Trading sentiment in the LME base metals market waned due to market concerns over higher inflation in China. LME copper prices closed at USD 7,497/mt, down USD 71/mt. China released a slew of strong economic data on Saturday, and the August’s 3.5% growth of CPI didn’t exceed the market expectations. In this context, LME copper prices during Monday’s Asian trading hours rebounded to above USD 7,600/mt. SMM believes SHFE copper prices will fluctuate upward on Monday, and SHFE September delivery copper contract will move between RMB 59,000-59,500mt.

 

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