Copper rallied once again above 400 mark to settle with the gains of 1.67% to settled at 402.45 overall sentiments turned up as copper prices has surged almost 21 percent in November, and neared a 17-month high after better-than-estimated U.S. data on durable goods and manufacturing Wednesday. Prices rallied after a report showed orders for business equipment advanced in the U.S, bolstering the outlook for the metal amid optimism demand will accelerate. Copper headed toward the biggest monthly rally since 2006 amid speculation incoming President Donald Trump will spend as much as $1 trillion to build bridges, airports and roads. Investors piled into industrial commodities in the past month on expectations for sustained demand from the U.S. and China, the world’s two biggest economies, and as the outlook for growth stabilized. Zambia's copper production is expected to increase by 4 percent to 740,000 tonnes this year, the Chamber of Mines in Africa's No.2 producer of the metal said. Orders for U.S. business equipment climbed in October for the fourth month in five and sales also advanced, according to a report. Demand for all durable goods -- items meant to last at least three years -- jumped 4.8 percent on a surge in orders for commercial aircraft. Technically market is under short covering as market has witnessed drop in open interest by -3.73% to settled at 16326 while prices up 6.6 rupee, now Copper is getting support at 396.9 and below same could see a test of 391.2 level, And resistance is now likely to be seen at 408.4, a move above could see prices testing 414.2.

Trading Ideas:

Copper trading range for the day is 391.2-414.2.

Copper prices gained on expectations of a pick-up in global manufacturing and infrastructure spending.

A report showed orders for business equipment advanced in the U.S, bolstering the outlook for the metal amid optimism demand will accelerate.

Zambia's copper production is expected to increase by 4 percent to 740,000 tonnes this year.