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Home / Metal News / [Cu] SMM Morning Review - 2009/10/21 Copper Market

[Cu] SMM Morning Review - 2009/10/21 Copper Market

iconOct 21, 2009 00:00
Source:上海有色金属网

SHANGHAI, Oct. 21 (SMM) -- The US stocks fell due to negative housing data, and the statement of the Bank of Canada dispelled market expectations of a lift in interest rates of Canadian dollar, which helped drive up US dollar. LME copper prices lost previous gains, and LME three-month contract copper prices closed at USD 6,410/mt, down USD 70/mt. LME copper inventories increased by 550mt, bringing total inventories to 357,275mt. Yesterday, SHFE copper prices tracked the upward trend of LME copper prices, but spot copper prices lacked upward momentum, and market insiders remained cautious about market outlook. In addition, LME copper prices declined last night, which will further increase market concerns, and transactions are expected to remain weak as a result.

 

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

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