Reuters reported that London copper edged up in line with a firmer euro after the European Central Bank said it was ready to buy bonds of troubled countries in the region although volumes were low with top consumer China on a week long holiday.

Fundamentals;
1. Three month copper on the London Metal Exchange had inched up 0.30 percent to $8,329.75 a tonne by 0140 GMT adding to small gains from the previous session.

2. Copper hit 4-1/2 month high on September 19th 2012 in the wake of the announcement of further easing steps by the ECB and the US Federal Reserve but gains have been capped by worries about slowing growth in China.

3. The Shanghai Futures Exchange market is closed for a week of holidays.

4. US job growth likely improved only slightly in September as businesses remained cautious out of fear a sharp tightening of the government's budget could deliver a big blow to the economic recovery early next year.

5. The number of Americans filing new claims for unemployment benefits rose only slightly last week after a big drop the week before.

6. Mr Mario Draghi president of European Central Bank said that everything was in place for the bank to buy the bonds of troubled euro zone countries such as Spain and that conditions linked to it need not be punitive.

7. Iron ore shipments to China from Australia's Port Hedland a bellwether for Chinese industrial activity, fell by 9.5% in September from the previous month to be flat on the year.

Source - Reuters

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