Like a number of physical commodity markets, copper prices have started out under some initial pressure this morning. News from China has been very quiet recently, suggesting that Chinese officials may not be ready to step up with additional easing measures, which some traders feel could make this Friday's Shanghai exchange copper stocks reading one of the more important fundamental developments of the week. The "dovish" comments from the Fed Regional President Rosengren yesterday made little impact on the market, and it is possible that sluggish German economic data overnight added to the pressure on copper prices this morning. With the additional burden of adverse currency market action, weaker equities and weakness in the precious metals, the copper market will need to see some improvement with the fundamental news flow in order to climb back towards yesterday's highs.
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