SHANGHAI, Dec. 21 (SMM) – The US dollar index finished higher at 80.62 yesterday, up 0.32%, but the negative correlation between the US dollar and copper prices has dropped recently. The LME copper market overnight closed at USD 9,200/mt along with optimistic outlook towards demand in China in 2011 and renewed supply concerns after port mishap in Chile, with the highest and lowest price of USD 9,257/mt and USD 9,110/mt, respectively.
During Tuesday’s Asian trading hours, the US dollar index is expected to move between 80.4-80.8, and LME copper prices will move in the USD 9,150-9,270/mt range, and SHFE three-month copper contract prices will fluctuate between RMB 68,500-69,700/mt on Tuesday.
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