Reuters reported that copper recoiled from a 4 month high on investor caution ahead of expected details on a debt swap agreement for Greece that's seen as key to avoiding a disorderly default.

Fundamentals;
1. Three month copper on the London Metal Exchange inched down to USD 8,508.50 per tonne by 0112 GMT after reaching USD 8,679.50 on Friday, the highest since September 16th 2012. Prices are headed for the biggest monthly gain since October with an increase of 12%.

2. The most traded April copper contract on the Shanghai Futures Exchange gained 1.1% to CNY 61,380 per tonne. The exchange re-opened Monday after a week long closure because of the Lunar New Year holiday.

3. Freeport McMoRan Copper & Gold's will appoint a new chief executive at its Indonesian unit, the Arizona based miner said on Friday, as it looks to turn the page after it made an agreement last month to end a crippling three-month strike.

(Sourced from Reuters)