Copper ended firm as the weak dollar bolstered risk appetite and positive European manufacturing data brightened global demand prospects. Gains were driven by investors who anticipated further losses in the dollar due to another round of government debt purchases, or quantitative easing, by the U.S. Federal Reserve. Copper inventories at LME approved warehouses fell 625 metric tons on Tuesday, to a total of 366,950 metric tons. Comex copper stocks on Monday afternoon, the most recently available data, were unchanged at 75,100 tons. Copper has touched a low of Rs 371.55 a kg after opening at Rs 373, and last traded at Rs376.35.For today market is looking for the support at 373, a break below could see a test of 369.6 and where as resistance is now likely to be seen at 378.3, a move above could see prices testing 380.3.

Trading Ideas:

Copper trading range is 369.6-380.3.

Copper ended firm as the weak dollar bolstered risk appetite

Copper is taking resistance at 378.30 and support is seen at 373.80.

Copper daily stocks at Shanghai exchange came up by 1224 tonnes.