In November, Chinese metal exports fell with its copper shipments at the lowest since January, customs data showed on Wednesday.
“Looking ahead, weak seasonality towards year-end (e.g. market quietness and wait and see attitude by European consumers) and price consolidation will lend less support to the short-term demand picture,” Argonaut Securities said.
At the MCX, copper futures for February 2017 contract is trading at Rs 377.50 per kg, up by 0.12 per cent, after opening at Rs 377.40, against a previous close of Rs 377.05. It touched the intra-day high of Rs 378.50 (at 15:44 hours).