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Home / Metal News / [Cu] SMM Morning Review - 2009/8/20 Copper Market

[Cu] SMM Morning Review - 2009/8/20 Copper Market

iconAug 20, 2009 00:00
Source:上海有色金属网

SHANGHAI, Aug. 20 (SMM) -- Chinese stock markets plunged, and SSE (Shanghai Stock Exchange) Composite Index fell by 4.3%, causing European and US stock markets to move downward. LME copper three-month contract prices closed at USD 6,040/mt, down USD 40/mt. LME copper inventories declined by 750mt, bringing total inventories to 292,000mt. SHFE copper prices, highly related with domestic stock markets, fell several times to test RMB 47,000/mt, and struggles between long and short positions are expected to intensify at this point today.

 

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

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