Copper Falls, Traders Nervous Ahead of EU Summit

Reuters reported that copper prices inched down after hopes of a solution Eurozone’s debt crisis decreased.

As quoted in the market news:

EU leaders are to meet on Wednesday to discuss tentative plans for Greece’s debt to be reduced, European banks to be recapitalised and the euro zone’s EFSF rescue fund to be increased to provide partial insurance for sovereign bonds. Germany said, however, it was opposed to a phrase in the summit draft that calls for continued European Central Bank non-standard measures, referring to the bank’s secondary market purchases of bonds in struggling economies such as Italy and Spain.

Click here to read the full Reuters report