Copper settled up 1.43% at 437.55 with tightening global supplies and economic optimism driving prices higher. Copper inventory levels in LME-registered warehouses, at 158,100 tonnes, are at their lowest in nearly six years, having steadily fallen in the last 12 months. Signs of global economic recovery have gathered pace following last week's strong U. S. jobs data and factory numbers from China that reinforced expectations of a pickup in demand for industrial metals.

While Thursday's data in China, the world's biggest copper consumer, showed its trade performance improved in June, it missed market forecasts and suggested that Beijing will have to unveil more stimulus measures to stabilise the economy. China's copper imports fell 7.9 percent month-on-month in June, dropping as Chinese banks reduced lending for metals imports following a probe into an alleged metals fraud at Qingdao port. Arrivals of copper anode, refined metal, alloy and semi-finished copper products stood at 350,000 tonnes in June, their lowest level since April 2013, data from the General Administration of Customs showed.

Importers increased spot refined copper purchases later in the month, but traders said the buying was not sufficient to offset the fall earlier. Importers increased spot refined copper purchases later in the month, but traders said the buying was not sufficient to offset the fall earlier. Technically market is under fresh buying as market has witnessed gain in open interest by 6.21% to settled at 10408 while prices up 6.15 rupee, now Copper is getting support at 432.8 and below same could see a test of 428 level, And resistance is now likely to be seen at 440.1, a move above could see prices testing 442.6.

Trading Ideas:

Copper trading range for the day is 428-442.6.

Copper settled up with tightening global supplies and economic optimism driving prices higher.

Chinese trade data added to signs the economy is slowly stabilising after a weak start to the year.

China's copper imports fell 7.9 percent month-on-month in June, dropping as Chinese banks reduced lending for metals imports.