Like the rest of the metals markets it would appear that copper has recovered a portion of recent losses. In addition to a weaker dollar, the copper market is also finding support from generally higher equity markets. The US copper market has not reacted to an ongoing pattern of weakness in Asian copper prices and a single day rise in exchange stocks of copper. LME Copper Stocks were pegged at 396,975 tons for an unusual daily rise of 1,100 tons. Many traders feel that the copper market may need to see positive US data and easing talk from the US Fed in order to hold onto this morning's strength.
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