Copper settled flat recovering from its losses on positive sentiment in equity markets and steady outflows of the metal in London warehouses, which underscored improved demand prospects. Concerns about a slowdown in growth in China, the world's largest consumer of copper, has been an overhang on copper prices recently. Inventories of copper stored in LME warehouses fell 1,725 metric tons, leaving them at 403,300. The most recent Comex inventory data, released late Tuesday afternoon, showed that stockpiles at Comex warehouses were down 243 short tons at 96,977 short tons. For today market is looking for the support at 340.5, a break below could see a test of 337.6 and where as resistance is now likely to be seen at 345.6, a move above could see prices testing 347.8.

Trading Ideas:

Copper trading range is 337.6-347.8.

Copper settled flat recovering from losses as LME inventory fell and firm equity market

Copper looks to take support at 341.80 and resistance at 345.60.

Copper daily stock at Shanghai exchange remained unchanged.