The copper market has traded lower this morning, with prices moving away from the recent highs for the move. Some traders feel that the market seems to be missing out on a portion of the recent strength in the precious metals complex, because of fears that higher oil prices will slow down the global recovery. Other traders have noted an ongoing pattern of rising exchange stocks as a possible signal that changes to the supply/demand equation are beginning to weigh on prices. News of higher Zambian copper production was seen as being negative for copper prices, as supply news has not provided the impact of demand news lately. There were expectations for a larger market reaction towards news of a sharp increase in US auto sales yesterday, as those numbers project stronger demand for copper from the US auto industry. With the general weakness in the Dollar today, a sharp gain in oil prices could add further pressure to the copper market. LME Copper Stocks were 423,550 tons up 3,275 tons.