Copper ended slightly lower on pressure from a stronger dollar as investors sold the metal while risk tolerance declined. U.S. economic data were mixed, but the metal did pare losses on stronger-than-expected U.S. industrial production numbers. Zambia’s Luanshya Copper Mines has resumed production at its Baluba Copper Mine after nearly a year of closure. Inventories of copper stored in LME warehouses rose 3,650 metric tons, leaving them at 470,800. The most recent Comex inventory data, released late Monday, were up 598 short tons at 93,208 short tons. Copper has touched a low of Rs 321 a kg after opening at Rs 324.95, and last traded at Rs323.45.For today market is looking for the support at 321.00, a break below could see a test of 318.60 and where as resistance is now likely to be seen at 325.80, a move above could see prices testing 328.20.

Trading Ideas:

COPPER TRADING RANGE IS 314-332.

COPPER ENDED SLIGHTLY LOWER ON PRESSURE FROM A STRONGER DOLLAR

BUY COPPER FEB @ 322.50-323.50 SL 320.90 TGT 324.40-325.20-326.40.MCX

SUPPORT FOR COPPER IS AT 321.60 AND RESIST IS AT 325.30

ZAMBIA’S LUANSHYA COPPER MINES HAS RESUMED PRODUCTION AT ITS BALUBA COPPER MINE