LME Copper Trims Early Gains on Lingering Europe Fear

Reuters reported that LME copper eased off from a 1 percent rise as investors questioned Europe’s progress in resolving a sovereign debt crisis.

The market news is quoted as saying:

Three-month copper on the London Metal Exchange rose to as high as $8,727 and eased to $8,645 a tonne by 0701 GMT, up 0.1 percent from the previous close.

Debt problems in the European Union are raising the risk to a bullish view for commodities, but a deeper recessionary event would be required to derail the outlook, a Goldman Sachs economist said.

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