Copper remained firm as the dollar weakened and a bullish trend in warehouse stockpiles boosted prices even as investors remained worried about the Chinese demand outlook. The first-quarter gain came as European debt crisis fears receded and healthier economic signals in the United States helped drive investment demand at a time when fears about an impending slowdown in China, which accounts for about 40 percent of global copper demand, have escalated. Copper, and most other base metals, received a boost Friday from upbeat U. S. data showing consumer spending increased by the most in seven months in February. Furthermore, the dollar hit a one-month low against a basket of currencies, extending falls on expectations of more U. S. monetary stimulus and helping the euro hold its ground as the bloc agreed steps to prevent the debt crisis spreading. After a 2-1/2 month run up, copper inventories in warehouses monitored by the Shanghai Futures Exchange have also started to decline in the past two weeks. Earlier copper futures had rallied after euro-zone finance ministers agreed to increase the currency bloc's crisis lending limit to EUR700 billion. In yesterday's trading session copper has touched the low of 431.15 after opening at 431.3, and finally settled at 431.65. For today's session market is looking to take support at 431.2, a break below could see a test of 430.8 and where as resistance is now likely to be seen at 432, a move above could see prices testing 432.3.

Trading Ideas:

Copper trading range for the day is 430.8-432.4.

Copper gained as on signs of firmer U. S. consumer sentiment offset disappointing U. S. manufacturing data.

Copper climbs on stronger Michigan consumer-sentiment data, Europe's rescue-financing deal

Euro-zone finance ministers agreed to increase the currency bloc's crisis lending limit to EUR700 billion