Copper Prices Bounced Up As Slowing US Services Weigh On US Dollar Index, Copper Inventory Below The Same Period Last Year For The First Time

Th06 06, 2023, at 1:54 pm
SMM

Copper rebounded slightly as the US dollar fell due to slowing services data. LME copper prices closed at $8,328.5/mt overnight, a rise of 0.98%. Trading volumes were 18,000 lots and open interest stood at 250,000 lots. The most active SHFE 2307 copper contract finished at 66,640 yuan/mt overnight, up 0.89%. Trading volume was 57,000 lots and open interest stood at 186,000 lots.

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Copper Prices Bounced Up As Slowing US Services Weigh On US Dollar Index, Copper Inventory Below The Same Period Last Year For The First Time

SMM Comment: Oil Erases Gains after Remarks by US Energy Secretary, SHFE and LME Base Metals Mostly Rise, Ferrous Metals also Outperform

SMM Daily Comments (Jun 6): Base Metals Mostly Rose, Iron ore Surged, Oil Plunged on Sluggish Overseas Economies