Copper prices fell as traders bet that better-than-expected U.S. jobs data would weaken the case for additional stimulus money. China's refined copper production will likely rise 7.7% to 4.9 million metric tons in 2011. Unions representing workers at the Collahuasi copper mine, agreed to return to the negotiating table tomorrow after suspending government-mediated wage talks today. Copper inventories at LME-approved warehouses fell 875 metric tons, to a total of 366075 metric tons. Copper has touched a low of Rs 370.15 a kg after opening at Rs 376, and last traded at Rs373.For today market is looking for the support at 369.6, a break below could see a test of 366.2 and where as resistance is now likely to be seen at 377, a move above could see prices testing 380.9.

Trading Ideas:

Copper trading range is 366.2-380.9.

Copper ended weak before Federal Reserve announcement on stimulus easing

Copper is taking resistance at 375.80 and support is seen at 371.60.

China 2011 refined copper output to rise 7.7% to 4.9 mln tons