SMM Morning Review - 2011/2/14 Copper Market

SHANGHAI, Feb. 14 (SMM) – As Egypt’s president stepped down, market sentiment improved. The US equities closed higher on Friday, setting multi-year highs. The US dollar index ended up at a high level of 78.69. LME copper prices reversed its downward trends along with rising stocks prices, despite of hitting a low level of USD 9,840/mt during the session. Finally, LME copper prices closed at USD 9,980/mt, up USD 27.3/mt, a gain of USD 0.3%. Positions were down by 820 lots, and trading volumes were down by 315 lots.

During Monday’s Asian trading hours, the US dollar index is expected to move between 78.1-78.7, and SHFE three-month copper contract prices will fluctuate in the RMB 75,500-76,800/mt range, and LME copper prices will move between USD 9,900-10,000/mt.

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