March copper has recovered a large portion of overnight losses, but has not been able to extend this week's sharp rally so far this morning. International copper markets were not seen as performing that favorably overnight, which some traders feel may project a slightly weaker Thursday US copper market. In addition to a slightly stronger US Dollar along with weakness in precious metals prices, there are ideas that the copper market might also be pressured by news of a start-up of a Zambian copper mine later this year. There are reports that China will launch new price control measures if their first quarter inflation measures are high, which could lead to a reduction of Chinese copper demand over the first half of 2011. LME Copper Stocks were 377,350 tons, down 825 tons.
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