Copper ended higher after a double dose of economic data dragged the dollar down and bolstered investor appetite for risk ahead of a key policy statement from the U.S. Federal Reserve. The global copper market was in surplus by 196,000 metric tons between January and October, the World Bureau of Metal Statistics said.

LME copper warehouse stocks up another 2,475 tonnes. COMEX copper warehouse stocks climbed 547 short tons to 93,755 short tons as of Tuesday. Copper has touched a low of Rs 323.5 a kg after opening at Rs 323.5, and last traded at Rs329.25.For today market is looking for the support at 325.00, a break below could see a test of 320.80 and where as resistance is now likely to be seen at 331.80, a move above could see prices testing 334.40.

Trading Ideas:

COPPER TRADING RANGE IS 318-342.

COPPER YESTERDAY CLIMBED AS PER EXPECTATION ON A WEAK DOLLAR

SELL COPPER FEB BELOW 329 SL 330.80 TGT 327.80-326.50-325.20.MCX

BUY COPPER FEB @ 322.50-323.50 SL 320.90 TGT 324.40-325.20-326.40.MCX

THE GLOBAL COPPER MARKET WAS IN SURPLUS BY 196,000 METRIC TONS