Copper prices ended flat erasing earlier gains as volatility in the currency market weighed on broader sentiment, but the metal's tightening market balance limited the losses. Global copper market deficit at 356,000 tonnes between January and July. LME copper stocks fell by 750 tonnes to 370,000 tonnes on Thursday. COMEX warehouse copper inventories down 485 short tons to 76,277 short tons on Wednesday. Copper has touched a low of Rs 370.5 a kg after opening at Rs 372.1, and last traded at Rs372.9.For today market is looking for the support at 369.8, a break below could see a test of 366.7 and where as resistance is now likely to be seen at 376.7, a move above could see prices testing 380.4.

Trading Ideas:

Copper trading range is 366.7-380.4.

Copper prices ended flat erasing earlier gains as volatility in currency market weighed

Global Copper Market in 161,000-ton Deficit January-August - WBMS

Copper daily stocks at Shanghai exchange came down by 854 tonnes.