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SMM Morning Review - 2010/9/7 Copper Market
SHANGHAI, Sep. 7 (SMM) – LME copper market overnight largely hold gains made last Friday, but trading sentiment was low as the US market was closed for the Labor Day, with prices narrowly fluctuating at around USD 7,700/mt. Finally, LME copper prices closed at USD 7,690/mt, up USD 40/mt.
Market focus is now whether or not copper prices will climb higher after absorbing positive news. Price rallies over the past two weeks have boosted market sentiment, and this will likely drive copper prices up further.
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