Shanghai Futures Exchange copper trimmed small losses to climb 1.2 percent to 36,590 yuan ($5,612) a tonne on Tuesday, having shown more resilience on Monday, hitting only a three-session low. Chinese shares regained some footing after a rout the session before fanned by poor factory growth figures that worsened the outlook for metals demand in the world's second-biggest economy.
China stocks closed mixed on Tuesday in volatile trade, with indexes swinging in and out of negative territory as government support measures struggled for traction in afternoon trade. But investors in other markets, including metals, which pared some of the prior day's losses, took comfort after Chinese equities found their footing following a 7 percent slide on Monday.
"Barring new fundamental news ahead of Lunar New Year, metals will follow the lead of the global and particularly the Chinese stock market," said broker Kingdom Futures in a note. "The outlook in the short term would still suggest the prices moving lower and re testing the lows set in November."
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