SMM Morning Review - 2011/4/7 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2011/4/7 Copper Market

SMM Insight 09:49:31AM Apr 07, 2011 Source:SMM

SHANGHAI, Apr. 7 (SMM) –The US dollar slid to 75.5 against the euro during the European and US trading hours. Meanwhile, prices of crude oil and gold gained, with oil prices hitting a multi-day high of USD 109.15/mt. In this context, the LME copper market overnight rallied continuously. Moreover, market belief of improvement in copper demand in China and rising prices in the US equities market further drove up copper prices, helping LME copper prices climb above USD 9,600/mt to reach as high as USD 9,625/mt. Finally, LME copper prices closed at USD 9,620/mt, the largest daily gain in recent two weeks. 

During Thursday's Asian trading hours, the US dollar index is expected to move between 75.5-75.8, and LME copper prices will fluctuate in the USD 9,500-9,650/mt range, and SHFE three-month copper contract prices will move between RMB 71,400-72,100/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 - 2011/4/7 Copper Market

SMM Insight 09:49:31AM Apr 07, 2011 Source:SMM

SHANGHAI, Apr. 7 (SMM) –The US dollar slid to 75.5 against the euro during the European and US trading hours. Meanwhile, prices of crude oil and gold gained, with oil prices hitting a multi-day high of USD 109.15/mt. In this context, the LME copper market overnight rallied continuously. Moreover, market belief of improvement in copper demand in China and rising prices in the US equities market further drove up copper prices, helping LME copper prices climb above USD 9,600/mt to reach as high as USD 9,625/mt. Finally, LME copper prices closed at USD 9,620/mt, the largest daily gain in recent two weeks. 

During Thursday's Asian trading hours, the US dollar index is expected to move between 75.5-75.8, and LME copper prices will fluctuate in the USD 9,500-9,650/mt range, and SHFE three-month copper contract prices will move between RMB 71,400-72,100/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