The copper market has traded higher this morning, and appears for many traders to be close to an upside breakout as turmoil in the Middle East begins to quiet done. Copper prices have been seen as finding support from the general improvement in macro economic sentiment as well as today's strength in US equities. Other traders feel that the copper market may have come under pressure from news of higher US copper production, another rise in daily LME exchange stocks and ideas that Chinese copper demand may be hurt by higher price levels. The copper market has shown little reaction to news that China idled some of its copper refinery capacity, as that may provide an early sign of a slower Chinese economy. LME Copper Stocks were 424,050 tons, up 500 tons.
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