Markets

Morning Copper Market Report

The copper market traded lower during the initial overnight trading and in the process prices temporarily fell below the prior session's lows. Apparently the copper market was seen as being supported overnight by ongoing concerns with Chilean supplies, but other traders feel that copper may also be partially under pressure due to weakening physical demand expectations. The copper market may have received some positive sentiment from ideas overnight that China might be poised to restart copper imports, especially if global supply flows are negatively impacted by the Chilean situation. Euro zone Retail Sales during April were up 0.9%, higher than market expectations and may help to stimulate Euro zone industrial copper demand. LME Copper Stocks were 476,750 tons, up 1,050 tons for the day.

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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