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[Cu] CBI Morning Review - 2009/6/3 Copper Market
SHANGHAI, June 3 (CBI China) -- Although US dollar continued to soften, copper price fell slightly due to the corrections of stock markets after surged and the demand for technical slips. Three-month LME copper contract closed at USD 5,030/mt, down USD 60/mt. LME inventories declined by 2,750mt, bringing total inventories to 309,225mt. SHFE copper reported weak performance yesterday afternoon, but the buyers still held cautious attitude, so copper price lacked supports from consumption. Copper price will remain high upon inflation supports, but any upward room for copper price will be limited due to weak demand.
Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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