Copper for three-month delivery contract on LME rose by $5 to close at $4450 on the back of better than expected U. S manufacturing and consumer sentiment data. It ended Rs. 1.25 lower on MCX closing at Rs. 221.7.

Copper, Zinc and Aluminum also ended the session marginally lower on MCX. Nickel May contract saw a drop of Rs. 12 on MCX.

LME copper inventories fell 3 percent to 357,800 tonnes on Friday, their lowest since early January. Cancelled warrnts -- material set to leave the warehouses -- fell 15 percent to 61,300 tonnes.

Peru's largest federation of mining unions has agreed to call an indefinite, nationwide strike starting on June 15 to demand better working conditions.

Mine workers ended a nine-day strike over wages at Xstrata's Lomas Bayas copper deposit in Chile. The deposit has annual output capacity of around
75,000 tonnes of copper. Brazil's primary aluminum output, world’s sixth largest, fell 6.6 percent in April to 126,900 tonnes, compared with the same month last year, the Brazilian Aluminum Association said.

Improving U. S. macroeconomic data and indications of China's economic re-inflation should gradually alleviate weak aluminum fundamentals, Goldman said.

Base metals complex is likely to remain subdued during the day as the economic indicators do not support any major uptick in prices. The news of a possibility of Copper oversupply in China may weaken Copper further. Stronger dollar and INR a rare combination is seen negative for the complex and we might see further decline in base metals prices during the day.

Copper prices have broken the medium term up-trend after breaching 222 levels. Copper is expected to move further to 209 in near term. Thus one can remain short in copper at higher levels. Breaking 217 levels today can take prices lower to 212-13 during the day.

Lead prices have been upwards with the range of 69-74, with increased volumes. Thus lifting the +DI line upwards. Therefore, lead prices are expected to move upwards on breaking the resistance of 74.25. One can take long position at lower levels around 69-70 during the day, targeting higher levels in couple of days. However, lead can trade soft for the day.

Aluminium prices have being taking support at 73.45 levels from past few sessions. The MACD is also seen giving a cross-over on down-side. Thus Aluminium is expected to fall back to 71.5-72 levels on breaching this support level of 73.45.