Copper faltered as a stronger U.S. dollar pressured prices. Inventories of copper stored in London Metal Exchange warehouses fell 2,125 metric tons, leaving them at 297,850. The most recent Comex inventory data, released late Friday, were up 421 short tons at 57,239 short tons.
May imports of unwrought copper and semi-finished copper production by China, the world's top consumer of the metal, probably fell from April's all-time record, as end-user demand waned.
For today market is looking for the support at 235.10, a break below could see a test of 232.05 and where as resistance is now likely to be seen at 241.00, a move above could see prices testing 243.85.
Trading Ideas:
Copper trading range is 222-252.
Copper is taking sup of 234 if breaks 230-228 level can be seen
Copper again stacked in the range. Again jump till 242 can be seen
