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Home / Metal News / [Cu] SMM Morning Review - 2009/8/26 Copper Market

[Cu] SMM Morning Review - 2009/8/26 Copper Market

iconAug 26, 2009 00:00
Source:上海有色金属网

SHANGHAI, Aug. 26 (SMM) -- LME base metal prices dropped negatively affected by profit-takings and falling crude oil prices. LME copper three-month contract prices closed at USD 6,255/mt, down USD 120/mt. LME copper inventories increased significantly by 3,875mt, bringing total inventories to 296,600mt, exerting downward pressure on copper prices. Struggles between long and short positions intensified after SHFE copper prices remained weak yesterday when LME copper prices moved upward, and copper prices will likely fluctuate slightly during this week.

 

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