Southern Copper Under Pressure
Southern Copper Corp.(NYSE:SCCO) is declining lower this morning by 0.41 cents to $39.83 a share. This leading copper producer is trading lower on the session while copper the commodity is trading higher. Freeport McMoRan Copper & Gold Inc.(NYSE:FCX) is also trading higher on the session by 0.70 cents to $56.95 a share. Therefore, the weakness looks to be specifically in Southern Copper stock. Short term traders should watch the $39.44 area as the next intra-day support area. This is a level where the stock could see a small intra-day bounce.