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SMM Morning Review - 2010/9/16 Copper Market
SHANGHAI, Sep. 16 (SMM) – LME copper prices slid below USD 7,600/mt again along with market concerns over China’s move to tighten monetary policy and unfavorable industrial production for August and manufacturing data for September out of the US. LME copper prices closed at USD 7,625/mt after falling as low as USD 7,554/m, flat with a day earlier.
During Thursday’s early Asian trading hours, LME copper prices in electronic trading fluctuated at above USD 7,600/mt, with a stable movement. SHFE copper market will likely rise after a new contract month begins. SMM expects SHFE October delivery copper contract prices to move between RMB 59,000-59,500/mt.
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