Copper prices eased from earlier highs as traders took heed that China may raise interest rates this weekend, ahead of releasing the November inflation data. Red metal prices rallied earlier Tuesday after ETF Securities said its physical copper exchange-traded fund has been approved for listing on the LME.  Copper inventories at LME listed warehouses, considered an indicator of metal demand, fell 1,000 metric tons to total 351,375 metric tons Tuesday. The latest data showing Comex copper stocks, released Monday afternoon, showed a decline of 839 tons to total 69,516 tons. For today market is looking for the support at 398.2, a break below could see a test of 394.2 and where as resistance is now likely to be seen at 407.6, a move above could see prices testing 412.9.

Trading Ideas:

Copper trading range is 394.2-412.9.

Copper ended below record as china rates eyed

Copper is taking resistance at 404.80 and support is seen at 399.60.

Copper daily stocks at Shanghai exchange came up by 100 tonnes.