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[Cu] CBI Morning Review - 2009/6/11 Copper Market
SHANGHAI, June 11 (CBI China) -- The yield from the auction of 10-year US treasury bonds was higher than expected, causing declines in US stock and boosting stronger US dollar, so LME copper price lost previous gains. Three-month LME copper contract closed at USD 5,185/mt, down USD 5/mt. The LME inventories declined by 2,075mt, bringing total inventories to 294,275mt. As recent conditions of neighboring markets will decide the copper price trend, so great pressure will appear in soaring trend for copper price. Although market players were optimistic over price outlook, transactions remained weak in domestic spot market, leaving pessimism over future market.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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