Morning Copper Market Report

July copper prices have fallen sharply lower during the overnight session and reached their lowest levels since December 19th, many traders feel that the copper market is reacting to the soft economic numbers seen from China and the Euro zone during the past few hours. With China posting soft manufacturing data again overnight, the potential for slumping Chinese demand for copper may be kept in a front and center position with the market. Some of those slumping Chinese copper demand fears may have put aside overnight after the market received news of another weekly decline in Shanghai copper stocks of 10,445 tons. A positive reception to this morning's US Non Farm Payroll data is widely expected to improve market sentiment and could help to lift copper prices off of their early lows.