Copper prices slipped back to 425.60 after having surged to record highs during the course of the week as a weaker dollar and supply worries helped to drive the price of the red metal upwards. Copper, used in power and construction, hit a high of 428.95 on Tuesday and is now up by 25% over the course of this year. Supply problems have played a part in recent price surges, and these were brought back into focus on Wednesday by news that the troubled Collahuasi mine was having to look for new routes for its output after the Patache port terminal, which supplies the mine, was shut down due to an accident. In yesterday's trading session copper has touched the low of 422.3 after opening at 426.25, and finally settled at 425.6. For today's session market is looking to take support at 423.2, a break below could see a test of 420.8 and where as resistance is now likely to be seen at 427.1, a move above could see prices testing 428.7.

Copper trading range is 420.8-428.7.

Copper yesterday ended weak on profit booking

Copper is taking resistance at 427.80 and support is seen at 422.60

Copper daily stocks at Shanghai exchange remained unchanged

BUY COPPER FEB @ 423.50 SL 421 TGT 424.80-426.50.MCX