Copper ended higher as optimism about demand gained ground on stronger-than-expected manufacturing data from the United States and Europe. The metal also gained as some saw easing Chinese manufacturing numbers as pointing to a lessened likelihood that authorities in the world's largest copper-consuming nation will move to further cool their economy. Copper inventories stored in LME-monitored warehouses fell by 425 metric tons Monday, to 413,075. For today market is looking for the support at 340.2, a break below could see a test of 336.3 and where as resistance is now likely to be seen at 346.5, a move above could see prices testing 348.9.

Trading Ideas:

Copper trading range is 336.3-348.9.

Copper ended higher as optimism about demand gained ground

Copper looks to take support at 340.20 and resistance at 346.50.

Copper down stock at Shanghai exchange came down by -501 tonnes.