December copper has posted moderate losses this morning and has consolidated near the middle of this week's trading range. While many traders feel that the market continues to find support from a global "risk on" market vibe this week, the December contract has now fallen well below yesterday's 4-month high. Moderate losses in the Dollar have been offset by weaker US stock futures this morning in front of today's US economic data and FOMC meeting announcement. Shanghai copper prices posted slight losses during overnight trading, although some analyst feel that the market will continue to find support from last week's announcement of new Chinese infrastructure projects.
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