By | September 14 2012 9:59 AM

December copper prices have risen more than 3.0% during overnight trading, and reached their highest levels since May 1st. Many traders feel that the current "risk on" market vibe was given a big boost by yesterday's FOMC meeting results, which will extend the Fed's quantitative easing measures until the US jobless rate falls by 0.5% from current levels. Shanghai copper prices posted large gains during the overnight session and were supported by the prospects for upcoming Chinese infrastructure projects and by the Fed's actions yesterday.