The copper market has managed another new high for the current move during overnight trading, which were made despite some slightly softer than expected Chinese economic readings. Some traders have felt that the elevated inflation readings indicated by these Chinese numbers provided copper prices with some support, as copper also saw signs of increasing copper production from Poland overnight. Other traders feel that the market may need to see something positive from a private survey of US manufacturing today in order to offset softer Chinese manufacturing readings, as that data has made a sharp decline from a breakneck growth pace seen at the beginning of last year. An official from the Libyan government said that nation's oil production has been cut in half during the current revolt, which may pressure the copper market through elevated risk concerns throughout the global marketplace.
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