Metals News
[Cu] CBI Morning Review - 2008/12/9 Copper Market
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01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Dec. 9 (CBI China)-- Propelled by positive news that Obama started the nation's largest-scale infrastructure construction plan over the past 50 years , US dollar became weaker, and Wall Street's three major stock indexes were up sharply, LME copper rose sharply, closed at USD 3310/mt, up USD 240/mt. However, inventories remained upward trend, increased by 3425mt; a total inventory amounted to 300,725mt. In the short term these positive news will support copper prices, but we still believe that it is difficult to maintain a substantial rebound due to the unchanged weak situation of copper supply and demand.


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