Copper ended higher as data showing U.S jobless claims fell, improving the demand outlook for industrial metals. Also supporting copper prices, the Chicago Federal Reserve Bank said its Midwest manufacturing index rose in July, driven by gains in auto, steel and machinery sectors.

On a bullish note, LME copper warehouse stocks fell by 1,175 tonnes on Thursday to 401,250 tonnes. Copper has touched a low of Rs 333.9 a kg after opening at Rs 333.9, and last traded at Rs341.4.For today market is looking for the support at 336.3, a break below could see a test of 331.2 and where as resistance is now likely to be seen at 344.1, a move above could see prices testing 346.8.

Trading Ideas:

Copper trading range is 331.2-346.8.

Copper ended higher as data showing U.S jobless claims fell

Copper looks to take support at 338.60 and resistance at 344.10.

Copper daily stock at Shanghai exchange came down by -1049 tonnes.