Copper prices are posting modest gains this morning but have been unable to climb above the recent highs early in today's session. Some traders were surprised that Asian copper prices were a little higher overnight, but that positive price action might have been the result of renewed talk of ongoing Chinese urbanization efforts.
With the copper market recently upbeat toward Chinese economic prospects, positive Chinese equity market action seems to have overcome recent strength in the Dollar and the extension of holiday trading conditions due to the Boxing Day holiday to provide support for the copper prices this morning.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.