A report that Chinese copper imports fell by 2.0% during August could have dampened copper market sentiment, but some traders felt that news was offset by a sharp drop in overall Chinese imports that fueled speculation that the Chinese central bank may start up fresh easing measures in the near future. Lukewarm global equity markets and mild strength in the Dollar this morning have put some mild pressure on the copper market. LME Copper Stocks were 214,650 tons, down 1,300 tons and remain in close proximity to their lowest levels since late 2008.
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