Copper settled up driven by a five-month low in the U.S. dollar and robust demand prospects reflected in healthy manufacturing data in China. Chinese copper imports for the year stand at 2.954 million tonnes – running just below levels last year, when imports broke all previous records. LME copper warehouse stocks fell by 175 tonnes to 375,100 tonnes, down more than 30 percent since February and at their lowest level since last November. COMEX copper warehouse stocks dropped 401 short tons to 85,850 short tons, their lowest level since November 2009.Copper has touched a low of Rs 360.2 a kg after opening at Rs 360.9, and last traded at Rs362.25.For today market is looking for the support at 360.4, a break below could see a test of 358.6 and where as resistance is now likely to be seen at 363.8, a move above could see prices testing 365.4.

Trading Ideas:

Copper trading range is 358.6-365.4.

Copper settled up driven by a five-month low in the U.S. dollar and robust demand prospects

Copper is taking resistance at 363.8 and support is seen at 360.4.

Copper daily stocks at Shanghai exchange came down by -198 tonnes.