Commodity reported that copper rallied as supply worries and a weak dollar supported while investors shrugged off data showing China's copper imports tumbled last month. Many investors looked past data showing a large drop in Chinese imports of the metal last month.
China's refined copper imports dropped 43% in March from the same month last year due to high stocks and strong international prices. Inventories of copper in LME registered warehouses rose by 2,575 tonnes to 456,275 tonnes their highest since last June.
The latest data showed that in yesterday's trading session copper has touched the low of 429.85 after opening at 430.4 and finally settled at 432.95.
For today's session market is looking to take support at 430.7, a break below could see a test of 428.5 and where as resistance is now likely to be seen at 434.3, a move above could see prices testing 435.7.
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