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Home / Metal News / [Cu] SMM Morning Review - 2009/7/29 Copper Market

[Cu] SMM Morning Review - 2009/7/29 Copper Market

iconJul 29, 2009 00:00
Source:上海有色金属网

SHANGHAI, July 29 (SMM) -- The Conference Board announced on Tuesday that the US consumer confidence index during July fell to 46.6, lower than market prediction of 49.0, which depressed the market sentiment. In this context, both stock markets and crude oil prices experienced corrections, and LME copper prices fell as well. LME three-month contract copper prices closed at USD 5,565/mt, down USD 5/mt. LME copper inventories increased by 1,500mt, bringing total inventories to 278,925mt. The short-term adjustments in copper prices are expected to attract more speculative funds enter the market, limiting downward room for copper prices.

 

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

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