The copper market was under heavy pressure during overnight trading, with prices falling well below their recent highs. After showing some initial strength yesterday, some traders felt that the copper market lost upward momentum when it became clear that specifics were not available on the latest Euro zone efforts to contain their debt problem. Other traders feel that copper price will begin to take more direction from equity markets, which will be poised to register their reaction to any fresh developments with EU negotiations. There may some market reaction towards private retain chain store sales figures, especially if those readings were influenced by Black Friday and Cyber Monday results.
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