The most-active November copper contract on the ShFE rose 0.5 percent to close at 66,800 yuan per tonne on Wednesday, after falling 1.2 percent in the last session. "Copper's rise on the LME today was led by gains on the Shanghai Futures Exchange, which seems mostly led by short-covering," said a Shanghai-based trader.
The Shanghai Metals Market said in a recent note it saw steady demand for copper from makers of water pipes and seawater desalination pipes despite a seasonal downturn in demand for air-conditioning pipes.
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