Copper prices rallied with values in London hurdling back up above the $7,000 per tonne level in late business as the dollar weakened and supply threats mounted at one of the world's top copper mines. The weakening dollar prompted some participants to buy back previously sold copper contracts as they were evening up positions going into the year-end holidays. Inventories of copper stored in LME warehouses rose 1,875 metric tons, leaving them at 482,775. Comex inventory numbers, released late Tuesday, were up 1,005 short tons at 97,194 short tons.  For today market is looking for the support at 325.5, a break below could see a test of 321.35 and where as resistance is now likely to be seen at 332, a move above could see prices testing 334.35.

Trading Ideas:

COPPER TRADING RANGE IS 320-340.

COPPER ENDED STRONG AS DOLLAR AND SUPPLY THREATS SUPPORTED THE PRICES

PERU'S COPPER PRODUCTION DECREASED 5.9% TO 109,207 METRIC TONS

COPPER TECHNICALLY ABOVE 7000$ ON LME LOOK BULLISH TILL 7180$ AS SUPPORT IS FROM MINES.

BUY COPPER FEB @ 330.50 SL 328.80 TGT 331.80-333.10-334.50.MCX