SMM Morning Review - 2010/12/21 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2010/12/21 Copper Market

SMM Insight 09:31:48AM Dec 21, 2010 Source:SMM

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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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

Key Words:  copper Cu  copper price 

SMM Morning Review - 2010/12/21 Copper Market

SMM Insight 09:31:48AM Dec 21, 2010 Source:SMM

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.

 

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

Key Words:  copper Cu  copper price