[Cu] CBI Morning Review - 2009/4/22 Copper Market

SHANGHAI, Apr. 22 (CBI China) -- The increases in U.S. dollar and gold indicate the high hedge sentiment in the market, and the rumor reports that National Reserve Bureau will sell off copper, leaving downward pressure to the copper price. Three-month LME copper closed at USD 4,515/mt, down USD 60/mt. The inventories declined by 5,025mt to 457,300mt. Currently, copper price moved along with the forecast of macro economy, but the continuous declines in the inventory helped to restrict copper price to fall sharply, so copper price will keep moving in the short term.

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