SMM Morning Review - 2011/3/9 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2011/3/9 Copper Market

SMM Insight 09:23:04AM Mar 09, 2011 Source:SMM

SHANGHAI, Mar. 9 (SMM) - On March 8th, crude oil prices fell, easing market concerns over inflation, and so markets shifted their attention to the outlook for mid and long-term demand. LME copper prices rebounded after falling to USD 9,346/mt, but any rallies were restricted after the US dollar index rose to 76.97. Finally, LME copper prices closed at USD 9,530/mt, up USD 31/mt. LME copper inventories fell.

During Wednesday's Asian trading hours, the US dollar index is expected to move between 76.6-77.0, and LME copper prices will fluctuate in the USD 9,380-9,620/mt range, and SHFE three-month copper contract prices will move between RMB 71,050-72,700/mt.

 

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 

SMM Morning Review - 2011/3/9 Copper Market

SMM Insight 09:23:04AM Mar 09, 2011 Source:SMM

SHANGHAI, Mar. 9 (SMM) - On March 8th, crude oil prices fell, easing market concerns over inflation, and so markets shifted their attention to the outlook for mid and long-term demand. LME copper prices rebounded after falling to USD 9,346/mt, but any rallies were restricted after the US dollar index rose to 76.97. Finally, LME copper prices closed at USD 9,530/mt, up USD 31/mt. LME copper inventories fell.

During Wednesday's Asian trading hours, the US dollar index is expected to move between 76.6-77.0, and LME copper prices will fluctuate in the USD 9,380-9,620/mt range, and SHFE three-month copper contract prices will move between RMB 71,050-72,700/mt.

 

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