The copper market starts out Thursday morning's trading well within the recent trading range and close to unchanged levels. There was a limited reaction in the copper market from the latest negative EU credit ratings news during overnight trading, as many traders feel that the copper market may be expecting to find some benefit from the European Central Bank interest rate decision today and from a favorable EU summit outcome on Friday. While copper has recently been undermined by fears of Chinese economic slowing, the market might have been found support by trade predictions that copper supply might generally remain tight even in the face of ongoing Chinese slowing. The copper market might take some direction from the US Jobless Claims numbers this morning, especially if those numbers show an expected decline.
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