The copper market fell back toward this week's lows early in Wednesday's trading. While the Dollar was slightly higher, news of French bank credit downgrades were seen as a negative factor for the market. Despite some upbeat statements from a copper company official indicating rising demand going forward yesterday afternoon, copper prices this morning remain under pressure. With several ongoing supply concerns still in place, the copper market has avoided a large slide back to the early August lows. News earlier this week of record Chinese copper production may have diminished fears of lost supply from labor troubles in the Pacific Rim. However, demand expectations are eroding and it might not take much in the way of disappointing macro economic news today or gains in the dollar to push copper prices towards a fresh new low for the move. LME Copper Stocks were 466,775 tons, up 775 tons.
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