Copper futures in Shanghai rallied to four-month peaks on Monday, boosted by brightening prospects for global demand after a string of reports last week showed industrial activity ramping up in the world's top two economies. The most active May contract on the Shanghai Futures Exchange ended at 59,950 yuan ($9,600), up 0.76 percent from Friday. It earlier reached its loftiest since September 20 at 60,270 yuan.
"Of course improving European and US data will be helping investor confidence, but China accounts for the biggest share of real demand. I have full confidence that copper prices will surprise on the upside between now and the end of May," said analyst Judy Zhu of Standard Chartered in Shanghai. "People are preparing for better order books than this time a year ago - there are signs of a pick up in property construction, for example. Chinese demand will be quite good after the Lunar New Year."
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