Shanghai copper up

The most-active October copper contract on the Shanghai Futures Exchange climbed 0.4 percent to close the session at 54,910 yuan ($8,600) a tonne on Wednesday, catching up with previous gains in London. "With Bernanke (Fed Chairman Ben Bernanke) speaking tonight, most investors will want to close off their positions by this afternoon, including the fresh longs which entered the market this morning," said Orient Futures Derivatives Director Andy Du.
Shanghai copper prices have climbed 5 percent since hitting an eight-month low in June. The recent drop in prices have encouraged some end-users to restock, in turn helping to draw down copper inventories held at exchange and bonded warehouses.