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Home / Metal News / [Cu] SMM Morning Review - 2009/9/30 Copper Market

[Cu] SMM Morning Review - 2009/9/30 Copper Market

iconSep 30, 2009 00:00
Source:上海有色金属网

SHANGHAI, Sept. 30 (SMM) -- The US consumer confidence index in September dropped to 53.1, lower than August level of 54.5. However, a series of housing price data in the US released yesterday experienced growth, exerting positive impact on industrial metal copper, and copper prices recovered as a result. In the mean time, LME copper inventories declined by 125mt, easing the pressure from continuous increases in copper inventories on copper prices. Today is the last trading day for SHFE copper before China’s National Day holiday, and the trading sentiment was lukewarm. SHFE copper prices are expected to move narrowly before the holiday. SMM believes LME copper prices will climb during holiday.

 

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

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