SHANGHAI, Mar. 15 (SMM) – After the massive earthquake in Japan, market players chose to stay away from the market due to worries over world's economic recovery from the quake, believing that the stoppage of industrial activities in Japan will negatively affect industrial metal or production of other major commodities. However, investors later shifted their attention to the post-earthquake construction in Japan, and that will improve copper consumption. Coupled with a lower US dollar index, LME copper prices were supported, with prices rallying from a recent 3-month low to close at USD 9,195/mt.
During Tuesday's Asian trading hours, the US dollar index is expected to move between 76.3-77.7, and LME copper prices will fluctuate in the USD 9,170-9,290/mt range, and SHFE three-month copper contract prices will move between RMB 69,100-69,800/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
