Copper is still maintaining higher levels, marginal fall in the markets have been answered by heavy buying and this has assisted the metal. But coming days are not expected to be hunky-dory for this metal. Deteriorating confidence in dismal home sales and jobless numbers from US will be the key triggers to deface Copper. In the last session, volatility is expected in the Copper markets. US jobless claims data due to be released later during the day is expected to set the tome for the markets Last night, new home sales in US plunged by 12.4% to an annual rate of 276000 in July from the revised June rate of 315,000 as per commerce department. In Euro zone, Standard & Poor's cut its credit rating on Ireland, and assigned the country a negative outlook late on Tuesday. This has again ignited fears that all is not well in Europe. On Thursday, Shanghai Copper closed the trading at 57350 yuan per tonne, up 660 yuan. COMEX Copper is seen at $ 3.2605 per lb. MCX Copper is now at Rs 336.8 per kg. The prices tested a 1 month low of Rs 329.8 per kg last night from where it has recovered.

Source