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Home / Metal News / [Cu] CBI Morning Review - 2009/4/8 Copper Market

[Cu] CBI Morning Review - 2009/4/8 Copper Market

iconApr 8, 2009 00:00
Source:上海有色金属网

SHANGHAI, Apr. 8 (CBI China) -- Although the U.S. stock declined, and the crude oil price fell, LME copper price soared due to the sharp increases in LME cancelled warrants and declines in the inventories. Three-month LME copper closed at USD 4,379/mt, up USD 94/mt. The inventories declined by 2,925mt to 501,900mt. The market insiders were optimistic about the price outlook, and the suppliers were reluctant to sell, leading to tight supply in the market. Copper price is expected to fluctuate in the short term, but with strong rebound momentum.

 

Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

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