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SMM Morning Review - 2010/2/26 Copper Market
SHANGHAI, Feb. 26 (SMM) -- Euro debt woes continued to weigh down market sentiment, and the US dollar shouldered off the negative impact from Ben Bernanke's remark of low interest rate, helping the US dollar index up to 81.1. In this context, LME copper prices moved lower, with prices falling as low as USD 6,983/mt. However, LME copper prices returned above USD 7,000/mt at the end of trading, with prices finally closing at USD 7,070/mt, down USD 90.
LME copper prices will face a great challenge in view of no significant improvement in consumption in China and higher US dollar, and will continue to experience fluctuations in the near future.
To contact the writer on this report: iriszhu@smm.cn
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