Copper On MCX Settled Up 0.02% At 407.80

Technically Copper market is getting support at 404.2 and below same could see a test of 400.5 levels and resistance is now likely to be seen at 412.1, a move above could see prices testing 416.3.

Copper on MCX settled up 0.02% at 407.80 holding key support of 406 level while sentiments remain weak tracking weak manufacturing data across major economies grew concerns about slower global growth. This reduced long positions in LME copper and ended it lower for the sixth consecutive trading day at $47,300/mt. 

This week Copper slid for a second session as the market kicked off 2019 trading amid concerns over growth in top metals consumer China as the latest data showed slowing factory activity.

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