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[Cu] SMM Morning Review - 2009/8/21 Copper Market
SHANGHAI, Aug. 21 (SMM) -- LME copper prices recovered propelled by rising stock markets in Asia, but then fell again given increasing number of applications for unemployment benefits in the US. LME copper three-month contract prices closed at USD 6,020/mt, down USD 20/mt. LME copper inventories increased by 1,250mt, bringing total inventories to 293,250mt. Today, China will release refined copper imports, and refined copper imports are expected to drop compared to June, which will likely depress the market, so copper prices will fluctuate lower.
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