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Home / Metal News / [Cu] CBI Morning Review - 2009/5/21 Copper Market

[Cu] CBI Morning Review - 2009/5/21 Copper Market

iconMay 21, 2009 00:00
Source:上海有色金属网

SHANGHAI, May 21 (CBI China) -- US dollar softened significantly, stimulating copper price to rise. LME three-month contract copper price closed at USD 4,630/mt, up USD 50/mt. LME inventories declined by 7,350/mt to 341,475mt. Tongdu Copper Company, Jinlong Copper Company, Baiyin Nonferrous Metals Corporation and Daye Nonferrous Metals Company will shut down for maintenances from late May to early June, exerting positive impact on copper price. However, supply pressure is far greater than downstream demand, so SHFE copper will continue to show a weak performance.

 

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