Copper settled flat at 454.20 recovered and settled flat while worries about the wider impact of the first partial U. S. government shutdown in 17 years cut risk appetite, with a weaker dollar limiting losses. Democrats and Republicans remained far apart in ending the first government shutdown in 17 years over a spending bill, stoking fears they would not be able to reach a deal to raise the U. S. borrowing limit by Oct. 17 to avoid an unprecedented debt default. Republican House Speaker John Boehner vowed on Sunday not to raise the U. S. debt ceiling without a "serious conversation" about what is driving the debt, while Democrats said it was irresponsible and reckless to raise the possibility of a U. S. default. World production of refined copper will exceed demand by around 390,000t in 2013, said the Lisbon-based International Copper Study Group (ICSG) in its Copper Market Forecast 2013-14. Following three years of relative stagnation, mine production this year is expected to increase by 6.5% compared to 2012, to 17.8Mt, while world refined copper production should end the year up 3.9% at 20.9Mt. The 2014 outlook points to a recovery in usage, but strong growth in production due to deferred or delayed projects coming on stream is expected to generate a higher surplus than in 2013. Technically market is under long liquidation as market has witnessed remain unchanged in open interest by 0% to settled at 14758 while prices down -0.2 rupee, now Copper is getting support at 449.3 and below same could see a test of 444.4 level, And resistance is now likely to be seen at 457.7, a move above could see prices testing 461.2.

Trading Ideas:

Copper trading range for the day is 444.4-461.2.

Copper settled flat on the belief that the return of Chinese traders would lift demand for the metal.

Copper consumption may rise to 8.586 mln tonnes in 2014

China's exports of copper products could also get support from recoveries in the United States and Europe