Reuters reported that London copper bounced back after two days of losses as upbeat US data helped revive buying interest in the metal which is headed for its best weekly showing in a month. But copper's gains are being kept in check by rising oil prices and the shaky euro zone economy. Fundamentals 1. Three month copper on the London Metal Exchange rose half a percent to USD 8,434.25 per tonne by 0124 GMT. 2. Copper is up 3.1% for the week so far its biggest gain since the last week of January after rallying on Tuesday along with other commodities after Greece secured its second bailout package. 3. There was further evidence of the US economy healing after data on Thursday showed the number of Americans filing new claims for jobless benefits last week held at the lowest level since the early days of the 2007 to 2009 recession and that US home prices rose 0.7% in December. 4. But the euro zone economy is heading into its second recession in just three years and the wider European Union will stagnate. The currency area has yet to break its vicious cycle of debt. 5. The weaker economic outlook in the Europe and Chinese manufacturing activity survey cut short copper's rally earlier in the week. The fact that losses had been modest in the past two days meant there's underlying strength building in the background which could be well spurred by any sign of pickup in Chinese demand. 6. The most traded May copper contract on the Shanghai Futures Exchange was little changed at CNY 60,440 per tonne. 7. China's imports of copper concentrate are expected to rise by about 10% in 2012 on strong smelter demand, curbing end users' appetite for overseas purchases of the refined metal. 8. Intimidation and violence by some workers against others who did not take part in last year's 3 month strike at Freeport McMoRan Copper & Gold Inc's vast Grasberg gold mine have interrupted resumption of normal operations.

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