Large overnight gains sent March copper prices temporarily to the highest price levels since December 13th, but the market wasn't able to hold all of those initial gains. As in other markets, there was some concern fostered by ideas that EU loan risk wasn't diversified beyond the Euro zone region, which may have prompted a widening of credit spreads and a slight tempering of gains for global equity markets. The "big picture" macro economic outlook for copper is widely considered to be mostly positive but may be susceptible to volatility. The market saw headlines of an implied Chinese copper demand jump of almost 30% over year ago levels and a jump of 7% over the prior month. News that Chinese iron ore imports also reached the 3rd higher monthly total ever might be seen as a positive for copper while some traders suggest that may be a sign of China restocking at cheaper prices. Stronger heavy industry product imports suggests to some traders that China has decent underlying economic conditions.