Morning Copper Market Report 10/26
October 27, 2012 1:22 AM EST
With copper prices remaining weak yesterday in the face of a positive Chinese factory output result, many traders are not surprised to see copper prices reach a fresh new low for the move in the face of a global slump in equities. A "risk-off" vibe during overnight trading has added to the weight already on copper prices, and the Chinese government change is expected to hang over the market for at least another week.
Copper may have found some support from news that Shanghai copper stocks on the week posted a decline of 3,949 tons, and now stand at only 192,761 tons. News of a daily LME copper stocks build of 1,100 tons might have had some negative impact on copper prices, however, as global economic slowing is being feared throughout many physical commodity markets.
*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
- Top 5 Richest Tennis Athletes
- Angelina Jolie & Brad Pitt Heads to Malta For New Movie After A Whirlwind French Wedding [PHOTOS]
- 2014 US Open Update (Day 4 - Men's Singles): Murray, Djokovic, Raonic and Isner Advance to 3rd Round [PHOTOS]
- Kate Middleton’s Mom Accused Of Being A Social Climber, Prince George Not Seen By Relatives
Join the Conversation
- Australian Stock Market Report – Afternoon August 29, 2014
- Australian Stock Market Report – Midday August 29, 2014
- Global Markets Overview – August 29, 2014
- Australian Stock Market Report – Morning August 29, 2014
- Better Market Your Uranium Someplace Else, Japan Appetite No Longer Huge as Before – Former PM Tells Australia Queensland Premier Campbell Newman
- Apple iWatch is iPhone 6 Accessory on Sept 19 Release Date: 6 Confirmed Specs & Features
- iPhone 6 Release Date Update: 4.7-Inch Model Scores 65.8% In Screen-To-Size Ratio; A Surprise Entry Scales Top Spot [List Attached]
- Canada Vs Russia War Erupts Via Twitter on Russia-Not Russia Maps
- Product Recall Alert: Hewlett-Packard Pulls Out 6M Power Cords from US, Canada Over Fire Hazard Concerns, Australia Also Affected
- ISIS Wants $6.6M and Release of Aafia Siddiqui in Exchange of Head of Female US Humanitarian Aid Worker, 1st American Fighting for Jihadis Dead
- James Foley Torture Involves CIA Waterboarding Technique
- Ukraine Ceasefire Looks Remote As Putin Talks Tough At Meeting With Poroshenko