Copper settled -0.78% down at 453.15 as a rally in the wake of fresh US stimulus began to splutter, with traders from top metals consumer China unwilling to chase prices that last week hit the highest since May. Factory activity in New York state contracted for a second month in a row in September, falling to its lowest level in nearly 3-1/2 years as new orders shrank further, a report from the Fed showed on Monday. Obama said the US was challenging Chinese auto and auto-parts subsidies that threatened American jobs as he campaigned in Ohio, an auto manufacturing state that could be decisive in the Nov presidential election. China will increasingly conduct monetary policy using price-based tools such as interest and currency rates rather than quantitative mechanisms, according to a blueprint of financial reforms expected between 2011 through 2015 which was published on Monday. Commodity markets will easily suffer profit taking following significant increases as potential risks in the European debt crisis prevail. A full Spanish rescue is still negotiated, and as the Spanish government is unwilling to adopt further austerity measures, protests have broken out. For today's session market is looking to take support at 451.3, a break below could see a test of 449.5 and where as resistance is now likely to be seen at 455.5, a move above could see prices testing 457.8.

Trading Ideas:

Copper trading range for the day is 449.5-457.9.

Copper ended lower as weaker U.S. manufacturing data prompts investors to lock in profits

Capping some of the metals' gains were worries about China's property market.

Obama said the US was challenging Chinese auto and auto-parts subsidies that threatened American jobs