Markets

Morning Copper Market Report

The copper market made a fresh new low for the recent move during overnight trading as Indian copper prices were slightly weaker again, exchange stocks in London were higher again and recent US auto sales figures were considered discouraging. In addition to a soft official Chinese PMI reading earlier in the week, the market was also presented with a negative Chinese copper demand prediction overnight from a major market analytics firm. In looking ahead to the action today, some traders feel it possible that copper prices might find support from the US initial jobless claims figures, but other traders feel that data may not be enough to completely alter what have become entrenched expectations of slowing US economic activity. LME Copper Stocks were 473,500 tons, up 2,650 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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