Morning Copper Market Report

The copper market comes into the Wednesday morning US trade under pressure again, and reached the lowest price levels since April 20th. Another large rise in LME daily copper stocks overnight and negative supply news from Zambia were seen as the main negative factors for the market. While some traders feel the copper market may receive some minor support from a favorable US Durable Goods report early in today's session, the upcoming Fed press conference later on today could provide some physical commodities like copper with some support. Euro zone Industrial Production during February was up 0.9%, in line with projections and could be an indication of a stronger industrial copper demand outlook from the Euro zone. LME Copper Stocks were 463,500 tons up 3,400 tons.

(Source: http://community.nasdaq.com/News/2011-04/morning-copper-market-report(3).aspx?storyid=72923)