Markets

Morning Copper Market Report

While copper prices have been under pressure during the past few sessions, they have been drawing some support from a weaker Dollar, stronger equities and Chinese economic data that exceeded market expectations. In fact, some economists have suggested that the Chinese data overnight "plays down" the threat of a hard landing in the Chinese economy. With a large South American copper miner showing a huge jump in profits and suggesting that Chinese demand going forward will remain very strong, some traders feel it possible that copper prices climb back above $4.0160 during the near future. A key South American copper producer has also indicated the prospect of a 2011 world copper deficit of 500,000 tons. LME Copper Stocks were 465,175 tons, down 1,275 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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