The most-traded January copper contract on the Shanghai Futures Exchange edged up 0.3 percent to 47,400 yuan ($7,738) a tonne on Thursday after evidence that China's economic growth cooled in October dented demand prospects but raised bets Beijing will have to loose further stimulus to shore up its struggling property market.
Copper prices have been stuck in range since mid-September with modest demand met by supply which is expected to swell next year, pressuring prices. Our central view is that copper prices will edge down a bit next year," said James Glenn, analyst at National Australia Bank (NAB) in Melbourne. NAB sees copper prices at around $6,600 by the end of 2015.
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