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Home / Metal News / [Cu] SMM Morning Review - 2009/7/31 Copper Market

[Cu] SMM Morning Review - 2009/7/31 Copper Market

iconJul 31, 2009 00:00
Source:上海有色金属网

SHANGHAI, July 31 (SMM) -- China reaffirmed that the government will loosen monetary policy appropriately, eliminating the investors’ concerns that China will tighten the credit and driving up LME copper prices again. LME copper prices soared to USD 5,637/mt, and closed at USD 5,625/mt, up USD 200/mt. LME copper inventories declined by RMB 300mt, bringing total inventories to 278,050mt. LME copper prices advanced to test USD 5,600/mt again, and market confidence will recover as well, and copper prices will remain strong in the near future. 

 

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

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