Morning Copper Market Report 10/25
October 26, 2012 1:40 AM EST
At least in the early trading action today, some traders feel that December copper has not benefited as much from the "risk-on" vibe as the rest of the precious metals markets. Surprisingly, favorable Chinese economic data hasn't given copper prices much of a definitive boost during the overnight session. Other traders have suggested that uncertainty ahead of the government change over in China on November 8th may be holding back copper prices as well.
In addition, residual Euro zone fears may also be partly behind the pattern of copper price weakness during the last month. Copper may also have been weakened by the market's reaction to the FOMC post-meeting statement yesterday, as the Fed didn't appear to be poised to offer up any fresh support for the US economy. Copper might have been pressured by news of a rise in copper production from Anglo-American in their 3rd quarter results.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
Copyright CME Group All rights reserved.
Most Popular Slideshows
- Prince William & Kate Middleton Caught Flirting In A Countryside Dinner Date [PHOTOS]
- Kate Middleton’s Mom Accused Of Being A Social Climber, Prince George Not Seen By Relatives
- Angelina Jolie & Brad Pitt’s Top Secret Wedding Tramps Jennifer Aniston’s ‘Friends’ Reunion & Pregnancy Talks [PHOTOS]
- 2014 US Open: Hottest Male Tennis Players To Watch [PHOTOS]
Join the Conversation
- Pricey iPhone 6 on Release Date Likely but with 3X Retina Resolution & Mobile Payment Service – Reports
- 5.5-Inch iPhone 6 is iPhone Air on Sept 19 Release Date: 5 Things to Consider Before Buying
- Nexus 6 Release Date Update: Moto X+1 Look Leaked, Nexus X or Shamu Moved to Demo Phase
- Google Nexus 8 Confirmed as HTC T1 aka Volantis/Flounder with Freshly-Leaked Specs & Features – Reports
- Europe, US Next on ISIS’ Hit List, Says Saudi King; Seized ISIS Laptop Reveals Terrifying Bio-Warfare Plans
- iPhone 6 On Release Date To Feature Qualcomm MDM9625M LTE, 1GB RAM, Mobile Payment Deal With AMEX, 1334x750 Display
- Leaker of Actresses Nude Photos Accepting PayPal Donations in Exchange For Posting Alleged Sex Video of Jennifer Lawrence, Has Naked Pictures of 100 Hollywood A-Listers