Copper fell as concerns about economic growth in the United States and China sapped optimism about demand for the industrial metal and turned investors away from riskier assets. Also, copper-output data released Wednesday showed domestic production rising 16% on year in July to 398,000 tons, playing into supply worries that further weighed on prices. Inventories of copper stored in LME warehouses fell 2,050 metric tons, leaving them at 406,325. The most recent Comex inventory data, released late Tuesday afternoon, were down 466 short tons at 98,586 short tons. For today market is looking for the support at 335, a break below could see a test of 332.8 and where as resistance is now likely to be seen at 340.2, a move above could see prices testing 343.2.

Trading Ideas:

Copper trading range is 332.8-343.2.

Copper yesterday declined on global growth worries

Copper looks to take support at 335 and resistance at 340.20.

Copper daily stock at Shanghai exchange came up by 201 tonnes.