Copper settled down -0.29% at 443.65 extended losses into a tenth consecutive session after U. S. manufacturing lost steam in January, further souring sentiment already tarnished by moderating growth in China. Copper prices have declined in each of the past eight sessions leading up to Monday, the longest losing streak since January 1996. Data released earlier showed that China's official non-manufacturing PMI slipped to its lowest level since December 2008 in January, falling to 53.4 from 54.6 in December. The deterioration in the services sector adds to declining manufacturing PMIs. Data released over the weekend showed that China's official manufacturing PMI fell to a six-month low of 50.5 in January from 51.0 in December. Last week, private sector data from HSBC confirmed a contraction in China's manufacturing sector for the first time since July. China is the world's largest copper consumer, accounting for almost 40% of world consumption last year. Meanwhile, market players continued to monitor liquidity conditions in emerging markets, such as Turkey and South Africa. Emerging markets economies have been hard hit in recent sessions by worries over the impact of cuts in Federal Reserve stimulus and concerns over a slowdown in China. Investors looked ahead to key U. S. economic data later in the day to gauge the strength of the economy and for further indications on the future course of monetary policy. Technically market is under fresh selling as market has witnessed gain in open interest by 6.62% to settled at 11134 while prices down -1.3 rupee, now Copper is getting support at 442.4 and below same could see a test of 441 level, And resistance is now likely to be seen at 445.6, a move above could see prices testing 447.4.

Trading Ideas:

Copper trading range for the day is 441-447.4.

Copper dropped as growing concerns over a slowdown in demand from top consumer China weighed on the industrial metal.

China's official non-manufacturing PMI slipped to its lowest level since December 2008 in January, falling to 53.4 from 54.6 in December.

Emerging markets economies have been hard hit by worries over the impact of cuts in Fed stimulus and concerns over a slowdown in China.