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[Cu] CBI Morning Review - 2009/4/30 Copper Market
SHANGHAI, Apr. 30 (CBI China) -- The US announced that 1Q GDP fell by 6.1%, with estimated value of contraction by 4.9%, which failed to exert negative impact on the copper market. Stimulated by the soft US dollar and sharp declines in the inventory, LME copper price rebounded strongly. LME three-month contract copper price closed at USD 4,400/mt, up USD 225/mt. The inventories declined by 8,825mt to 411,450mt. Attentions will be focused on the result of interest rates discussion by Fed, and SHFE copper will soar following the LME copper price trend today.
Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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