Copper futures climb down from a 10-month high on Monday morning in Asia and is quoting at $4.89 per pound despite optimism from China stimulus and encouraging data. China unveiled a special action plan over the weekend, introducing measures to increase wages and stabilize stock and real estate markets. Meanwhile, stocks on the Wall Street showed a substantial move back to the upside during trading on Friday. The major averages all moved sharply higher, with the tech-heavy Nasdaq posting a standout gain. The major averages reached new highs for the session going into the close of trading. The Nasdaq soared 451.07 points or 2.6 percent to 17,754.09, the S&P 500 surged 117.42 points or 2.1 percent to 5,638.94 and the Dow jumped 674.62 points or 1.7 percent to 41,488.19. Despite the significant rebound on the day, the major averages still posted steep losses for the week. The Dow plunged by 3.1 percent, while the Nasdaq and the S&P 500 tumbled by 2.4 percent and 2.3 percent, respectively. The commodity has gone up impressively in recent period and is up around 6.30% so far this month.

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