Reuters reported that copper prices steadied in London after two straight days of losses while investors focused on the euro zone debt situation after Greece delayed yet again its decision on a bailout package.

Fundamentals
1. Three month copper on the London Metal Exchange traded at $8,505 a tonne up 0.3% at 0138 GMT. Copper has notched up four consecutive weeks of gains and has rallied almost 12% so far this year.

2. The most traded April copper contract on the Shanghai Futures Exchange gained 0.6% to CNY 60,380 per tonne.

3. Greek political parties delayed yet again on Tuesday making the tough choice of accepting painful reforms in return for a new international bailout to avoid a chaotic default seemingly deaf to EU warnings that the euro zone can live without Athens.

4. Mr Ben Bernanke chairman of Federal Reserve warned congress that putting off a decision on the fate of expiring Bush administration tax cuts could unsettle businesses and households, undercutting the US economic recovery.

5. BHP Billiton H1 year profit fall in two years hurt by lower commodity prices and higher costs and said it expected longer term demand from key customer China to slow.

6. Glencore lost money on agricultural commodities in 2011 by trading volatile cotton markets and saw the profitability of trading metals and oil remaining weak or declining.

7. Workers of one union at Teck Resources Limited's Chilean Quebrada Blanca mine, which produced 86,200 tonnes of copper in 2010 have voted in favor of a new labor contract, defusing a strike threat.

(Sourced from Reuters)