Copper on MCX settled down -0.29% at 324 as dollar strength ahead of the release of Fed’s latest minutes offset a drop in London Metal Exchange inventories to a three-week low. China's imports of copper rose 11.8 percent to 379 million tonnes in the first nine months of the year, according to preliminary customs data. No breakdown of the numbers or more details were available, but the world's top commodities consumer's buying of the metal used in construction and infrastructure has slowed as the year has progressed. In August, imports hit a one-year low. Australia's Oz Minerals Ltd on Thursday said production was resuming at its Prominent Hill copper mine, two weeks after a storm knocked out power. The mine in South Australia state along with the neighbouring Olympic Dam mine owned by BHP Billiton , were crippled when severe lightening storms caused a statewide blackout on Sept. 28. BHP has yet to say when the 203,000-tonnes- per-year Olympic Dam mine will resume production. China hopes to boost private investment by improving financial services for small enterprises, its powerful state planner said in a document. The German economy will lose some steam in the second half of the year after its robust performance in the first half, the Economy Ministry said on Wednesday, putting a damper on growth hopes after better-than-expected economic data. Technically market is under fresh selling as market has witnessed gain in open interest by 1.69% to settled at 23989 while prices down -0.95 rupee, now Copper is getting support at 323 and below same could see a test of 322.1 level, And resistance is now likely to be seen at 325.6, a move above could see prices testing 327.3.

Trading Ideas:

Copper trading range for the day is 322.1-327.3.

Copper prices dropped as dollar strength ahead of the release of Fed’s minute offseting a drop in LME inventories to a three-week low.

China's imports of copper rose 11.8 percent to 379 million tonnes in the first nine months of the year, according to preliminary customs data.

Australia's Oz Minerals Ltd said production was resuming at its Prominent Hill copper mine, two weeks after a storm knocked out power.