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[Cu] CBI Morning Review - 2009/7/10 Copper Market
SHANGHAI, July 10 (CBI China) -- The rising stock markets and softened US dollar stimulated copper price to inch up. Strong SHFE copper price attracted more arbitrageurs to enter LME copper market, and boosted LME copper price as well. LME three-month contract copper price closed at USD 4,895/mt, up USD 150/mt. LME copper inventories declined by 3,375mt, bringing total inventories to 261,975mt. The strong SHFE copper price generated the market confidence, so copper price will continue to move around RMB 40,000/mt in the near future.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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