Copper yesterday traded with the negative node and settled -1.45% down at 449.2 for a second straight day in the line of expectation, sinking further away from this week's record high, as concerns about rising inflation and restrained growth prospects in emerging world economies began to bite. With price pressures on the rise in China and in other emerging economies, market began to think the sustainability of the global recovery, worrying that higher food costs could create a significant slowdown in growth this year. LME copper for three-month delivery dropped $168 to close at $9,843 a tonne and closed below the $10,000 mark, pulling further away from Tuesday's record high of $10,190. In yesterday's trading session copper has touched the low of 447.8 after opening at 455.05, and finally settled at 449.2. For today's session market is looking to take support at 446, a break below could see a test of 442.8 and where as resistance is now likely to be seen at 454.2, a move above could see prices testing 459.2.

Trading Ideas:

Copper trading range is 442.8-459.2.

Copper yesterday ended down as inventory builds

Copper looks to take support at 446.80 and resistance at 452.20 level.

Copper daily stocks at Shanghai exchange came up by 5893 tonnes.

YESTERDAY LME STOCK FOR COPPER CAME Up  BY 3375