Copper settled down after disappointing U. S. manufacturing and leading indicators reports added to the skittishness sparked earlier by weak jobs data. Despite the spate of negative news, the declines in copper prices were relatively modest. After declining steadily all week, inventories of copper stored in LME warehouses rose 225 metric tons Thursday, leaving them at 403,525. However, the most recent Comex inventory data, released late Wednesday afternoon, showed that stockpiles at Comex warehouses were down 339 short tons at 96,638 short tons. For today market is looking for the support at 337.6, a break below could see a test of 334.3 and where as resistance is now likely to be seen at 345.8, a move above could see prices testing 350.6.

Trading Ideas:

Copper trading range is 334.3-350.6.

Copper yesterday ended lower on weak economy signs

Copper looks to take support at 337.60 and resistance at 342.80.

Copper daily stock at Shanghai exchange came down by -4826 tonnes.