Copper yesterday traded with the positive node and settled 1.28% up at 464.9 after a surprise jump in Chinese imports reinforced prospects for robust global demand and raised hopes of extended restocking by the world's top consumer. Copper, often viewed as a barometer for the global economy due to its use in construction and power, posted its biggest daily gain in about two weeks, as the data suggested China's growth remained intact despite recent tightening measures. Preliminary Chinese trade data showed imports of copper rose to 364,420 tonnes in Jan. In yesterday's trading session copper has touched the low of 458.3 after opening at 459.15, and finally settled at 464.9. For today's session market is looking to take support at 460.3, a break below could see a test of 455.7 and where as resistance is now likely to be seen at 467.5, a move above could see prices testing 470.

Trading Ideas:

Copper trading range is 455.7-470.

Copper rallied after a surprise jump in Chinese imports reinforced prospects for robust global demand

Copper looks to take support at 462.20 and resistance at 467..60 level.

Copper daily stocks at Shanghai exchange came up by 977 tonnes.