Copper yesterday traded with the positive node and settled 0.01% up at 432.2 after dropping Friday after a double dose of disappointing data in the United States and a third consecutive weekly build in Shanghai inventories eroded early bullish sentiment. Prices fell after data showed U.S. consumer sentiment dipped in early March and production at the nation's mines, factories and utilities held steady last month after an upwardly revised gain in January. Copper has risen more than 12 percent so far this year, benefiting from a brighter global economic outlook and increased liquidity across markets as central banks around the world ease credit curbs to spur growth. The gains have come despite a shaky outlook on demand from China, and doubt is creeping in as to how much further prices can rally without a significant improvement from the metal-consuming giant. Freeport McMoran Copper & Gold Inc said first-quarter copper output would be down by about 10 percent because of labor-related problems at its Grasberg mine in Indonesia, the world's second-biggest copper mine, which will not return to full production until the second quarter. Copper stocks at warehouses monitored by the Shanghai Futures Exchange rose for a third consecutive week to 227,276 tonnes by March 15, the highest level since July 2002, data showed.

Trading Ideas:

Copper trading range for the day is 431.8-432.8.

Copper ended lower as some investors took a cautious stance after weaker U.S. economic data

U.S. industrial output was unchanged in February as lower mining activity was balanced by a spurt in manufacturing.

Freeport McMoran Copper & Gold Inc said first-quarter copper output would be down by about 10%