The most-traded January copper contract on the Shanghai Futures Exchange climbed 1.1 percent to 47,530 yuan (7,772) a tonne, while ShFE zinc rose 2 percent as signs of resilience in China's trade data also revived sentiment towards the metal. China's October trade data showed more resilience than some had expected even as annual growth in the country's exports and imports slowed.
Copper imports improved, as trade gradually returned to normal after a financing scandal, while demand prospects were bolstered by a string of new infrastructure projects, and news that China's state planner has doubled its copper buys for 2014. "It was a very positive result," said analyst Daniel Hynes of ANZ in Sydney. "I'm certainly not calling a restock cycle starting just yet but certainly with consumer inventories relatively low and prices where they are, there are certainly chances of one developing."
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