Copper settled -0.68% down at 442 as investors ditched metals along with other risk assets after protests in Spain and Greece renewed fears about the euro zone debt crisis and its drag on global economic growth. Some key concerns at this point are ongoing worries about the euro zone and about a softer tone in China. China has been revising down its macro forecast for next year and a lot of the fundamentals data for base metals also point to softness, physical premiums are down and apparent consumption of copper has fallen in August. Investors' focus switched back to the euro zone as protesters in Spain clashed with police, demonstrating against a new round of austerity measures. In Greece, police fired tear gas at hooded youths hurling petrol bombs and stones as tens of thousands took to the streets in Greece's biggest anti-austerity demonstration in months. 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. Market can be steady as Shanghai will be shut from Sept. 29 to Oct. 7 for the Mid-Autumn and Chinese National Day holidays. For today's session market is looking to take support at 439.6, a break below could see a test of 437.1 and where as resistance is now likely to be seen at 444.7, a move above could see prices testing 447.4.

Trading Ideas:

Copper trading range for the day is 437.2-447.4.

Copper ended lower as investors ditched metals along with other risk assets after protests in Spain and Greece

Rise in Spain's borrowing costs, EU anti-austerity protests drag on copper

US announced that new home sales for August were only 373,000 units, lower than 380,000 units of expectation.