Markets

Morning Copper Market Report

The copper market remains under pressure this morning, as fears of slowing Chinese copper demand are combining with other negatives factors for a price slide down to the lowest levels since last November. With Chinese growth fears increased by another bank reserve tightening move overnight, a rising Dollar and more signs of broad based physical commodity market liquidation pressure are widely seen as negative factors for the copper market during today's session. Under current condition, some traders feel that the copper market might not get any support from news of a large decline in US claims later on this morning. With a major tech sector company overnight offering up poor forward guidance and announcing job cuts, there are widely held ideas that the copper market may be facing a negative physical commodity market environment. UK Industrial Production during March was up 0.3%, lower than expectations and may lead to lower UK industrial copper demand during the near future. LME Copper Stocks were 468,975 tons, up 625 tons.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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