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Home / Metal News / [Cu] SMM Morning Review - 2009/8/19 Copper Market

[Cu] SMM Morning Review - 2009/8/19 Copper Market

iconAug 19, 2009 00:00
Source:上海有色金属网

SHANGHAI, Aug. 19 (SMM) -- LME copper prices moved upward to USD 6,190/mt pushed by short-coverings, but then dropped due to weak US housing starts in July. LME copper three-month contract prices closed at USD 6,080/mt, down USD 15/mt. LME copper inventories declined by 1,300mt, bringing total inventories to 292,750mt. The limited downward room for LME copper prices signals the possibility of large upward room for copper prices in the future. As falling copper prices will stimulate the purchasing interest of some domestic consumers, copper prices are expected to fluctuate higher today.

 

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

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