Copper prices rose on Wednesday after modest losses in London, gaining on a pause in the dollar's rally and expectations that booming construction in China will pick up where strategic stockpiling for much of the year left off. Concerns about the state of global demand persist, with worries about rising copper stocks and a fall in US consumer confidence to 47.7 this month from 53.4 in September, underscoring analysts' fears.
But the outlook for China, which surprised markets with its fifth heaviest copper imports on record for last month, will continue to drive demand as consumption by the construction sector picks up, to replace slowing stockpiling.
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