Like a number of physical commodity markets, copper prices have started the new trading week out on a weaker footing. Some traders feel that the return of Chinese equity trading after an extended holiday failed to foster buying interest in copper, perhaps because of World Bank forecasts suggesting that further slowing would be seen throughout the Asian region.
Asian copper prices traded weaker during the overnight session, and adverse currency market action and generally lower global equity markets were widely seen as negative factors for the copper market as well. With a lack of major US economic data early this week, some traders feel that the price action in US equity markets may have an inordinate amount of influence on the copper market during the next few sessions.
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