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Home / Metal News / SMM Morning Review - 2010/8/12 Copper Market

SMM Morning Review - 2010/8/12 Copper Market

iconAug 12, 2010 00:00
Source:上海有色金属网

SHANGHAI, Aug. 12 (SMM) – As weak economic data from China and the US announced recently added to market worries about the global economic recovery, investors moved away from high-risk assets, and looked for the US dollar as safe-haven, helping the US dollar rally to above 82.5. In this context, LME copper prices continued its downward trend, down as low as USD 7,162/mt before ending at USD 7,195/mt, down USD 140/mt.

SMM believes the negative impact from unfavorable economic news will not last for a long time, and copper prices will rebound after absorbing the news.

 

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