Copper ended higher as investor demand, economic optimism and weather-related buying outweighed bearish sentiment from easing production tensions. Copper prices more than doubled in 2009 on increasing economic optimism and a boost in risk appetite. Chinese buying is also being fueled by Shanghai Futures Exchange prices that are high enough above LME prices to make importing the metal more attractive. Inventories of copper stored in LME -monitored warehouses rose 2,050 metric tons Wednesday, leaving them at 507,400. The most recent Comex inventory data, released late Tuesday, were up 23 short tons at 99,368 short tons. For today market is looking for the support at 348.20, a break below could see a test of 344.90 and where as resistance is now likely to be seen at 354.50, a move above could see prices testing 357.50.

Trading Ideas:

Copper trading range is 340-360.

Copper ended higher on investor demand and Chinese buying

Copper prices more than doubled in 2009 on increasing economic optimism

China is stocking the copper as due to snow fall mines output can be disturbed

SELL COPPER FEB @ 353-354 SL 356.50 TGT 351.80-350.20-348.60. MCX