[Cu] SMM Morning Review - 2009/9/22 Copper Market

SHANGHAI, Sept. 22 (SMM) -- Yesterday, LME aluminum prices opened at USD 1,920/mt, and later inched down increasingly due to strengthened US dollar index. LME aluminum prices hit the day-low level of USD 1,861/mt, and then bottomed out supported by softened US dollar index after profit-takings at night, and closed at USD 1,878/mt.
&nbsp;&nbsp;&nbsp; The US dollar index will move around 76.6, but the impact from US dollar index movements on base metal prices was very limited recently. Although market concerns over Chinese demand triggered LME aluminum prices fluctuations, the higher purchasing interest when prices were low, as well as the sentiment of stock replenishment before China's National Day holiday helped support aluminum prices to stabilize.
&nbsp;&nbsp;&nbsp; At present, a number of traders became reluctant to move goods, and new arrivals during this week were limited, resulting in relatively tight market supply. In addition, the downstream stock replenishment before China's National Day holiday is expected to push up the trading sentiment in the short term, so aluminum prices are expected to fluctuate higher.
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