Copper settled 0.31% up at 448.80 as appetite for growth-linked assets improved after data showed Chinese exports surged more than expected in December. Market sentiment was boosted after official trade data released earlier showed that Chinese exports grew 14.1% from a year earlier in December, blowing past expectations for a 5% gain and up from a 2.9% increase in November. Imports expanded by 6% from a year earlier, beating expectations for a 3.5% increase and following on from zero growth the previous month. The strong rebound in shipments helped widen the trade surplus to USD31.6 billion in December from USD19.6 billion in November. Focus was expected to remain on the US economy, as investors remained jittery over the longer term fiscal outlook, with negotiations on raising the US debt ceiling still to come in February. Meanwhile, in the US, the Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 5 rose by 4,000 to a seasonally adjusted 371,000, compared to expectations for a decline of 2,000 to 365,000. Jobless claims for the preceding week were revised down to 367,000 from a previously reported 372,000, Traders remained focused on the outlook for Federal Reserve monetary policy, as well as political developments in the US. For today's session market is looking to take support at 446.6, a break below could see a test of 444.5 and whereas resistance is now likely to be seen at 451.1, a move above could see prices testing 453.4.

COPPER

Copper trading range for the day is 444.4-453.4.

Copper gained as appetite for growth-linked assets improved after data showed Chinese exports surged

Focus was expected to remain on the US economy, as investors remained jittery over the longer term fiscal outlook

Copper weekly stocks at Shanghai exchange came up by 228 tonnes

Warehouse stock for Copper at LME was at 326575mt that is down by -2475mt.

SELL COPPER BELOW 450 SL 452.80 TGT 448.20-446.10. MCX (STBT)