December copper recovered from moderate losses during overnight trading, but was unable to climb past yesterday's high for the move early this morning. While Shanghai copper prices were able to post a modest gain, weakness throughout Asian equity markets was seen by many traders to have pressured copper prices. A report that Chinese refined copper output during August was down 3.4% from last year's levels may also have been a source of weakness for the copper market this morning, but some traders feel that news may not have a long-term impact given last week's announcements of fresh Chinese infrastructure projects.
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