Copper climbed as buying momentum continued to mount on a tightening supply base and improved demand fundamentals. Copper responding to low inventories in China and the notion that the global, rather than the U.S., economy is on the mend and that copper demand will rise in the face of modestly tightening supplies.  LME copper warehouse stocks fell by 1,975 tonnes to 380,125 tonnes. COMEX copper warehouse stocks dropped 746 short tons to 87,562 short tons as of Wednesday. Copper has touched a low of Rs 358.6 a kg after opening at Rs 359, and last traded at Rs360.5.For today market is looking for the support at 358.9, a break below could see a test of 357.3 and where as resistance is now likely to be seen at 361.8, a move above could see prices testing 363.1.

Trading Ideas:

Copper trading range is 357.3-363.1.

Copper climbed as buying momentum continued to mount on a tightening supply

Copper looks to take support at 358.90 and resistance at 361.80.

Spread between copper NOV & FEB contracts yesterday in the range of 1.65 - 1.95.