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Home / Metal News / [Cu] SMM Morning Review - 2009/8/6 Copper Market

[Cu] SMM Morning Review - 2009/8/6 Copper Market

iconAug 6, 2009 00:00
Source:上海有色金属网

SHANGHAI, Aug. 6 (SMM) -- Although the US economic data released last night were mixed, LME copper prices set a new high propelled by softened US dollar, soaring LME nickel prices upon strike news and the entrance of speculative funds. LME copper prices closed at USD 6,195/mt, up USD 95/mt. LME copper inventories declined by 800mt, bringing total inventories to 285,100mt. SHFE copper prices moved up passively and consumption pressure in spot market limited the upward room for copper prices. However, copper prices will report weak performance today, as LME copper prices will likely meet slight corrections after continuous rise.

 

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

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