The most active January copper contract on the Shanghai Futures Exchange edged up 0.4 percent to close the session at 58,790 yuan ($9,400) per tonne on Tuesday. "Shanghai copper prices are consolidating after yesterday's fall and are likely to range between 58,000 yuan and 59,000 yuan for a while until we get clearer trading cues," said CIFCO Futures analyst Zhou Jie.
Analysts said consumer demand for copper in China remained weak despite a drop in the discount of spot copper over the ShFE front-month November contract to 100 yuan from as much as 150 yuan on Monday.