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[Cu] SMM Morning Review - 2009/9/16 Copper Market

iconSep 16, 2009 00:00

SHANGHAI, Sept. 16 (SMM) -- Copper prices moved up mildly stimulated by increasing low-priced purchases, and the better-than-expected retail sales and manufacturing index in August released by the US last night also helped support copper prices. However, any upward movement for copper prices will be limited due to continuous increases in LME copper inventories. LME three-month contract copper prices closed at USD 6,275/mt, up USD 110/mt. LME copper inventories increased by 2,750/mt, bringing total inventories to 322,550mt. SHFE copper prices are expected to climb today positively affected by rising LME copper prices.

 

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