Copper settled up 0.4% at 457.45 as traders bet that an apparent slowdown in U. S. hiring could tweak the Federal Reserve's monetary policy and increase the appeal of industrial commodities. China's copper imports inched up 1.3 percent in December on a month earlier propped up by contracted shipments even as a cash crunch depressed spot purchases, but arrivals still fell 2.3 percent in 2013 due to lower term bookings of refined metal. China's copper imports rose 29 percent to 441,291 tons last month from a year earlier, government data showed today. Total imports expanded 8.3 percent, while exports grew 4.3 percent. Stockpiles monitored by exchanges in London, New York and Shanghai are at the lowest since November 2012, with LME inventories dropping for a 46th day. Highlighting dwindling supplies, copper stocks in LME-registered warehouses fell by 4,375 tonnes to a fresh one-year low, exchange data showed. Data showed China's export growth weakened in December--raising concerns about metal demand if economic growth isn't sustained. The U. S. economy added 74,000 jobs in January, the Labor Department said on Friday, the smallest increase since January 2011 and well below expectations for 196,000 new jobs. The unemployment rate fell to a five-year low of 6.7% from 7% in November, but this was due in part to people dropping out of the labor force. The labor participation rate fell to an almost 35-year low of 62.8%. Now Copper is getting support at 454.4 and below same could see a test of 451.3 level, And resistance is now likely to be seen at 459.8, a move above could see prices testing 462.1.

Trading Ideas:

Copper trading range for the day is 451.3-462.1.

Copper rose as traders bet that an apparent slowdown in U. S. hiring could tweak Fed's monetary policy and increase the appeal of industrial commodities.

China's copper imports inched up 1.3% in December propped up by contracted shipments even as a cash crunch depressed spot purchases

Data showed China's export growth weakened in December--raising concerns about metal demand if economic growth isn't sustained.