Markets

Morning Copper Market Report

The copper market sustained another large selloff during overnight trading, with the December copper contract reaching the lowest price levels since July of 2010. December copper was able to bounce 23 cents off of their initial lows, but many traders feel that fears of a global recession in the marketplace will make it very difficult to alter copper's recent downward price trajectory. The copper market overnight received some evidence of higher physical copper production, so some traders are unclear if favorable US housing data or better than expected US regional manufacturing data will help to improve market sentiment later this morning. LME Copper Stocks were 465,525 tons up 975 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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