Copper on MCX settled down -1.2% at 325.35 dropped near two-week lows as a stronger dollar prompted commodity markets to take a breather after April's broad-based rally, while a deteriorating technical picture pointed to further consolidation. While Chinese data showing factory activity in the world's top metals consumer shrank for a 14th consecutive month has muddied the outlook for metals demand and dulled hopes of economic revival after a credit-fuelled rally. 

Copper on the London Metal Exchange closed down 1.1 percent at $4,867 a tonne. While the dollar bounced off near 9-month lows, further gains were softened by relatively weak employment figures ahead of a critical jobs report from the Labor Department at week's end. Technically market is getting support at 323.4 and below same could see a test of 321.5 level, And resistance is now likely to be seen at 328.6, a move above could see prices testing 331.9. Contact this no:- 9827808090

                               Trading Ideas

• Copper trading range for the day is 321.5-331.9.          

• China’s refined copper output in 2016 will probably remain around last year’s levels, as output cuts pledged in December are offset by new capacity.      

•  Global manufacturing growth almost stalled last month as rising prices halted an upturn in new orders, a survey showed.