Copper prices received significant support

Copper prices on the London Metal Exchange rose 0.6 percent, following a 0.3 percent decline in the previous month. Copper prices support the recently released Chinese trade data for November. Metal on the LME for 3-month shipments is now $ 6601.00 per tonne.

China's exports rose 10.3 percent on a year in November, after rising 6.0 percent a month earlier, the customs administration said, while analysts had expected exports to rise 2.0 percent.

Imports increased by 17.7%, after an increase of 17.2% earlier, against an expected increase of 13.0 percent. In addition, imports of copper concentrate to China in November rose to a record 1.78 million tonnes, while imports of copper and its products increased to 470 thousand tonnes, the highest this year.

Copper is up 3.4 percent this week, down 2.4 percent last week.