Copper prices edged down on Thursday in thin trading, as markets in top consumer China are closed for a week-long public holiday, while investors and traders awaited more cues following a series of stimulus measures from Beijing.

Three-month copper on the London Metal Exchange (LME) fell 0.3% to $10,056.60 per metric ton by 0407 GMT, lead eased 0.1% to $2,150, while tin was almost flat at $33,890.

LME aluminium rose 0.1% to $2,681.50 a ton, nickel edged up 0.5% to $18,235 and zinc increased 0.4% to $3,187.50.

In September, China released a slew of policies to support the country’s economic growth, including lower interest rates and mortgage rates, liquidity injections into banks, and easing home purchase restrictions.

LME copper climbed 6.4% in September, the best monthly gain since April.

It also hit $10,158 a ton on Sept. 30, its highest level since June 7.

“The policy stimulus effect to copper in the short-term is almost finished. We saw the stock accumulation in China for the first time in September,” said analyst Matt Huang at broker BANDS Financial.

Copper makes gains on hopes for more China stimulus

Copper inventories in warehouses tracked by Shanghai Futures Exchange rose to 141,625 tons on Sept. 30, the first increase since the week starting July 1.

SHFE copper stockpiles have fallen for 12 weeks straight since July, as prices fell from a record high above $11,000 in May to around $8,700 in August.

China also entered its traditionally stronger consumption season in late September and some buyers were stockpiling ahead of the Oct. 1-7 National Day holiday.

“The chance to have a price correction (after the holiday) is high,” said Huang.

The LME cash copper contract was trading at a discount of $141.16 a ton against the three-month contract on Wednesday, the biggest discount since July 17, signalling that there is no tightness of near-term supply.