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Home / Metal News / [Cu] CBI Morning Review - 2009/6/2 Copper Market

[Cu] CBI Morning Review - 2009/6/2 Copper Market

iconJun 2, 2009 00:00
Source:上海有色金属网

SHANGHAI, June 2 (CBI China) -- Crude oil and gold prices rose to a new high propelled by falling US dollar, and copper price moved upwardly boosted by the surrounding markets. The improvements in the purchase management index in manufacturing industry in China and US accelerated the copper price to rise. Three-month LME copper contract price closed at USD 5,090/mt, up USD 295/mt. LME inventories declined slightly by 300mt, bringing the total inventories to 311,975mt. The price hike yesterday generated the market optimistic sentiment. Copper price will unlikely rise markedly due to decreasing demand in the short term.

 

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