The copper market has started out this week with moderate losses, which some traders feel may be a negative reaction to weekend developments on the Korean peninsula. LME Copper Stocks are now at the lowest levels since December 29th of last year. Any benefit from tighter LME copper stocks may have been offset by news of a large increase in Shanghai copper stocks at the end of last week.
A private survey of the US housing market later in today's session could provide support for copper prices if the index comes in stronger than expected.