Shanghai copper futures rallied 3.6 percent on Wednesday, chasing overnight gains in London, with markets soothed by cautiously positive comments by US leaders. Shanghai copper for delivery in May closed at 27,500 yuan a tonne, having earlier rallied by its 5 percent upside limit from Tuesday's settlement, to 27,930 yuan.
Copper on the London Metal Exchange rose $40 or 1.2 percent to $3,325 a tonne following a $54 gain overnight. After the evening kerb close, copper accelerated gains to end the electronic trading session at $3,370, up more than 4 percent on the day.