Copper ended down as fresh concerns about the health of the European banking sector fed a wave of risk reduction in the broader market and helped drag red metal prices away from highs. Copper mine production capacity should grow at an average of 4.4% a year to reach 24.2 million metric tons in 2014, the International Copper Study Group said. LME copper warehouse stocks fell another 1,400 tonnes to 395,475 tonnes. Stockpiles are down from 6-1/2-year highs at 555,075 tonnes in mid-February. Copper has touched a low of Rs 353.3 a kg after opening at Rs 360.5, and last traded at Rs357.4.For today market is looking for the support at 353.6, a break below could see a test of 349.9 and where as resistance is now likely to be seen at 360.8, a move above could see prices testing 364.3.

Trading Ideas:

Copper trading range is 349.9-364.3.

Copper ended lower amid revived risk aversion

Copper looks to take support at 355.20 and resistance at 360.80.

Copper daily stock at Shanghai exchange came up by 151 tonnes.