SHANGHAI, Dec. 24 (CBI China) -- China cutting interest rates were below market expectations, the U.S. Commerce Department reported new home sales in November fell 2.9% MoM, and GDP of the U.S. in 3Q shrank 0.5% MoM. The sluggish economic situation dampened the stock and commodities markets, three-month LME copper closed at USD 2,825/mt, down USD 135/mt. The inventories increased by 700 mt, and the total inventories were 328,200 mt. The performance of SHFE copper was better than LME copper, the premium fell slightly, it is predicted that the demand will decline due to the approaching of holiday, leading pressures to SHFE copper.
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