March copper has traded lower this morning, but remains within this week's trading range. Ongoing economic uncertainty from the Egyptian political situation, residual strength in the Dollar, sagging equity prices and news of another large weekly increase in Shanghai copper stocks have all been seen as negative factors for the market. News reports indicate that the Chinese central bank has begun to raise reserve requirements on some medium and smaller size domestic banks, which may act to limit Chinese industrial copper demand over the first half of this year. LME Copper Stocks were 396,725 tons, down 225 tons. Shanghai Deliverable Stocks were 144,197 tons, up 9,899 tons.