The copper market may have found some support this week from news that solar manufacturing companies might be forced to shift production away from high priced silver components, and toward relatively cheaper copper components. It is also possible that copper derived a measure of support from overnight news of a slight decline in 1st quarter copper production for a key global copper producer. On the other hand, the copper market was also presented with news of higher copper output from a northern hemisphere copper miner. Many traders feel that if the copper market cannot rally off positive US economic data, then ongoing weakness in equities along with declining global inflation views could place some pressure on the copper market this morning. LME Copper Stocks were 463,925 tons, up 125 tons.
(Source: http://community.nasdaq.com/News/2011-05/morning-copper-market-report(2).aspx?storyid=74324)
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