Copper declined after data showed falling Chinese imports, renewing concern about global growth and its implications for demand for the industrial metal. In China, the world's largest copper consumer, imports of the metal fell 17% in June from the previous month and 31% from a year earlier, preliminary customs data showed. Meanwhile, inventories of copper stored in LME warehouses, an indicator of demand, fell 1,650 metric tons Monday, leaving them at 435,250. The most recent Comex inventory data, released late Friday afternoon, were unchanged at 101,235 short tons. For today market is looking for the support at 310.4, a break below could see a test of 308 and where as resistance is now likely to be seen at 315.3, a move above could see prices testing 317.9.

Trading Ideas:

Copper trading range is 308-317.9.

Copper declined after data showed falling Chinese imports

Copper looks to take support at 310.40 and resistance at 315.30.

Copper daily stock at Shanghai exchange came down by -75 tonnes.

SELL COPPER AUG @ 312-313 SL 315.20 TGT 310.60-309.20-307.50.MCX