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[Cu] SMM Morning Review - 2009/10/28 Copper Market
SHANGHAI, Oct. 28 (SMM) -- The US consumer confidence index in October dropped to 47.7, while the consumer confidence index in September was revised to be 53.4. The declines in this data helped support US dollar to move up and drag down base metal prices. LME copper prices closed at USD 6,585/mt, down USD 28/mt. LME copper inventories increased by 1,800mt, bringing total inventories to 370,650mt. The market players paid more attention to the upcoming US GDP. The rebounding US dollar hampered the upward momentum for copper prices, and if the US GDP is positive, it will help support copper prices.
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