Metals News
SMM Morning Review - 2011/3/9 Copper Market
smm insight
09:23AM
Mar 9,2011
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.

 

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