Shanghai Futures Exchange copper rose as much as 0.8 percent to 53,150 yuan ($8,131) a tonne on Monday as investment flowed into industrial metals amid surprisingly robust global factory growth. Factories across Asia and Europe cranked up production last month as global demand remained strong, confounding expectations growth may have peaked. "Chinese demand has been more than what the market generally expected but it is not guns-blazing amazing, which means that supply is playing a key role here," said Vivek Dhar at Commonwealth Bank Australia in Melbourne.
"There is latent capacity that could be brought on line but no one is doing it so I think we are likely to have prices at least supported around current levels into the fourth quarter. I think we will get more clarity after China's Congress in mid-October."