Copper climbed with a falling dollar and slightly optimistic housing data providing an early lift, as investors awaited a U.S. Federal Reserve policy statement later in the day. Copper production in Zambia, Africa's largest producer, fell 13 percent in January 2010 compared with January 2009 due to earlier mine closures but analysts said there were good prospects for higher output. LME warehouse stocks fell 3,150 tonnes to 528,050 tonnes. COMEX copper stocks were flat at 102,138 short tons as of Monday. For today market is looking for the support at 335, a break below could see a test of 332.1 and where as resistance is now likely to be seen at 340.2, a move above could see prices testing 342.6.340.2, a move above could see prices testing 342.6.

Trading Ideas:

Copper trading range is 332.1-342.6.

Copper climbed with a falling dollar and slightly optimistic housing data providing lift

Copper is getting resistance at 339.20 and support is at 336.40 level.

Zambia's copper output down in Jan on mine closures

BUY COPPER APR @ 336-337 SL 334.80 TGT 338.20-339.40-340.50.MCX