Copper settled 0.56% up at 445 but overall traded under pressure wiping out part of gain in the prior session, as concerns over the euro zone debt crisis hampering demand for industrial metals returned following anti austerity protests in Spain. Protesters clashed with police in Spain's capital as the government prepared a new round of unpopular austerity measures for the 2013 budget to be announced. ECB President offered a vigorous defence of the bank's bond buying plans to a sceptical German audience on Tuesday and said it was now up to governments to follow with decisive policy steps of their own. Merkel said that Europe could only hope to come out of its crisis stronger and compete in a globalised world if its members pressed ahead with painful reforms and moved to more responsible budget policies. US home prices rose in July in the latest sign of a sustainable housing market recovery, while a jump in consumer confidence this month offered a harbinger that Americans are ready to loosen their spending. China's central bank said that it will "fine tune" policy to cushion the economy against global risks and that the country's economy has showed signs of stabilsing while the trend of inflation remains stable. For today's session market is looking to take support at 443, a break below could see a test of 441 and where as resistance is now likely to be seen at 446.6, a move above could see prices testing 448.2.

Trading Ideas:

Copper trading range for the day is 441-448.2.

Copper gains after a double dose of positive economic data in the US bolstered investor appetite for risk

Concerns remained about outlook for physical demand from China, given sluggish consumption since beginning of the year

Concerns surround Spain's finances as Madrid holds back from applying for bailout for fear of political backlash at home.