The copper market has traded lower this morning as negative sentiment from the Euro zone is widely seen as pressuring prices. Some traders are suggesting that the potential for progress in labor negotiations at the Grasberg mine and a stronger Dollar are also weakening copper prices this morning. With many markets focusing on Euro zone debt problems, the copper market may not have much of a reaction towards this morning's US data. However, it is possible that favorable US numbers could provide some support while clearly weak US numbers could simply add further pressure on the copper market. LME Copper Stocks declined by 1,300 tons again overnight and have now declined for 21 straight days.
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